(Source: Eurostat) – Eurostat, the statistical office of the European Union, publishes today information on contingent liabilities and non-performing loans of government for the year 2015. These data have been provided by the EU Member States in the context of the reinforcement of European economic and fiscal governance (the “six-pack”).
The contingent liabilities published in this release include data on government guarantees, liabilities related to public-private partnerships recorded off-balance sheet of government and liabilities of government controlled entities classified outside general government (public corporations). The liabilities are contingent in the sense that they are only potential and can materialise as actual government liabilities only if certain specific conditions prevail. Non-performing loans (government assets) could imply a loss for government if these loans were not repaid. Thus, this data collection represents an important step towards further transparency of public finances in the European Union by providing a more comprehensive picture of potential impacts on Member States’ financial positions.
Data are country specific and closely linked to the economic, financial and legal structure of the Member State. Significant progress has been achieved in this data collection in terms of coverage and completeness of the data. Nevertheless data coverage is still not fully exhaustive for some Member States, as indicated in the country footnotes. In particular, comparability is limited for the liabilities of public corporations as not all Member States have included the liabilities of financial institutions and/or the liabilities of units controlled by local government.
Enclosed the graphic table contained in the press release:
Enclosed the press release:
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