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HBIHXIFDAHBYE _]AZFIE AA

\ernabl _fphr 66 ih gubae ih =?6:

7/26/2019 Modelo de Desarrollo Vasco. ENDEUDAMIENTO PRIVADO II

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@es iftes quh rhj`hgfb `f hve`ucab cedpfrfif ih`

hbihuifdahbte pravfie hb h` _fs Zfsce iurfbth `f crasas

seb ih ubf adpertfbcaf hshbcaf` pfrf h` hbjequh ih

buhstrfs pe`tacfs hcebdacfs.

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Sab hdmfrle, ih pfrtacu`fr abthrs puhih shr tfdmab

cedpfrfr hstes iftes ceb `f satufcab fbths ih `f `tadf

murmugf jabfbcahrf quh prevec h` hstf``aie ih `f crasas.

Zfdes f uta`azfr pfrf h``e `f rhjhrhbcaf ih` fe =.???,

uta`azbie`f pfrf cedp`htfr h` cufire yf h`fmerfie semrhhve`ucab ih` criate f` shcter pravfie iurfbth `f crasas

jabfbcahrf.

3.

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cede ceb `f satufcab fctuf`. F su vhz, bes rhvh`f

tfdmab ubf satufcab shbsam`hdhbth sada`fr hbtrh `es

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retf, jubifdhbtf`dhbth, per h` ihsprepercaebfie semrh-

hbihuifdahbte ih `f hcebedf hspfe`f hb h` phreie

fbthraer f `f crasas.

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C]IAYE F@ SHCYE] _]AZFIE (ES]) S/_AM(_AM / mfsh =??; hb =?66-=?68 y mfsh =??? hb =??

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C]IAYE F@ SHCYE] _]AZFIE (ES]) S/_AM

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7/26/2019 Modelo de Desarrollo Vasco. ENDEUDAMIENTO PRIVADO II

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cuftre dmates thrrateraf`hs fbf`azfies, esca`fbie

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7/26/2019 Modelo de Desarrollo Vasco. ENDEUDAMIENTO PRIVADO II

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Deih`e ih Ihsfrre``e Zfsce

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`f CF Husnfia cede Bfvfrrf sh hbcuhbtrfb yf chrcf

ih `es bavh`hs ih hbihuifdahbte fbthraerhs f `f

murmugf jabfbcahrf ih `f icfif fbthraer. Bfvfrrf,

hb cebcrhte, sh hbcuhbtrf yf hb `es bavh`hs ih

criate s/ _AM hxasthbths hb Hspff y hb `f Xbab

Hurephf hb h` phreie fbthraer f `f crasas.

Fs f \ernabl _fphr, at iehs bet rhj`hct fby abstatutaebf` pesataeb er epabaeb bhatkhr ej HNFA Chbthr, ber ej

ats spebsers er suppertabl hbtatahs.

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fwfrh tkft wh dfy kfvh f cebj`act ej abthrhst tkft ceu`i fjjhct tkh emghctavaty ej tkas rhpert. Abvhsters

skeu`i cebsaihr tkas rhpert fs eb`y f sabl`h jfcter ab dfnabl tkhar abvhstdhbt ihcasaeb.

LF]FAF ABBEZFYAEB CHBYH], LEA]X 6F DEBI]FLEB

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