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EU Governments : Wait til I pay you

( From Zero Hedge, WSJ , Global Insolvency , Reuters )​



​​Europe's Resolution To Unpaid Bills? Delay Them



​​Curious how Europe's insolvent peripheral countries, where the government is increasingly the only source of demand if not funding in many cases, have managed to avoid falling into a primary budget deficit abyss? Simple: instead of paying their outstanding bills, Europe's insolvent nations are simply not paying them.



So wondering here the words will do whatever we can doesn t help a lot in terms of funding. So they play the best try to kick the can further and delay tremendously payments to the private sector.​​ .

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Overdue payments have long been a bigger problem in southern Europe than in the north. The debt crisis that has restricted lending to peripheral euro-zone governments is aggravating the problem, which is rising in Greece and Italy as well. Spain's crisis, set off by the collapse of a real estate boom nearly five years ago, is particularly acute in areas where declining revenue from real estate taxes pummeled municipal and regional finances.



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And the graph below shows how acute the problem is for Spain, Italy and Greece.

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