Living on credit
30 November 2016
November 30 marks Credit Day across the European Union. Credit Day is the day when member states’ central administrations exhaust their annual tax revenues and have to begin borrowing in order to meet their spending commitments for the rest of the year.
Besides two EU countries – Sweden and Germany – all central governments are running budget deficits. However, in most countries the situation is improving, with the average Credit Day running six days later than the year before.
EPICENTER publications and contributions from our member think tanks are designed to promote the discussion of economic issues and the role of markets in solving economic and social problems. As with all EPICENTER publications, the views expressed here are those of the author and not EPICENTER or its member think tanks (which have no corporate view).
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