Autonomía y sustentabilidad financiera de las autoridades locales

Abstract

Financial local autonomy is frequently seen as a “right” of local entities, exercised on the basis of own choices and voluntary powers. However, it must be emphasized that the bad use of local autonomy has severe consequences, as the insolvency or bankruptcy of local entities. On this context, financial sustainability can be seen as a limit to financial autonomy and has a crucial significance, having in mind not only the present decisions concerning public finances, but also the future moments and effects.