An end to PIG-headedness
- From: Vol 11, Issue 5 (May 2010)
- Category: Analysis
- Region: Europe
- Country: Greece, Italy, Portugal and Spain
- Related Companies: European Union
Christopher Gasson looks at how water financing contributed to the debt crisis, and how the situation may be reversed.
Has water played a role in the financial crisis in Southern Europe? In most of the PIGS (Portugal, Italy, Greece & Spain), water infrastructure is financed through a mixture of European Union grants, central government debt and local government debt. There is very little contribution from the operating revenues of the utilities. The result is that governments across the region have ...
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