Madrid Region to Sell 100 Office Buildings Amid Austerity

Madrid’s regional government plans to sell 100 office buildings in the center of the Spanish capital over three years to cut its deficit and pay for services as the country makes its deepest budget cuts on record.

“We’re not a real estate company,” said Jose Luis Moreno Casas, the government official who is overseeing the sales. “Our job is to ensure there is adequate health care, education and mobility for our people.”