December 12, 2012

More strain in Spain

New figures from the Spanish government show that Spanish regions have a total of almost €13bn in outstanding bills with private suppliers, reports El Economista (h/t Open Europe).

That's a huge burden for private suppliers to shoulder in an economy which is contracting anyway.

And only the other day we learned that Spanish companies are aiming to diversify away from Spain.

How long can this go on?

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