The public-private road to bankruptcy?
A failure to book public-private partnerships on balance-sheets allows governments to drive a hole through plans to cap deficits.
Appeared in print on 20.12.2011
On 9 December, the EU’s member states – with the exception of the UK – agreed to a new treaty that will impose strict caps on government spending and borrowing. This intention may end up being yet another paper tiger, for many different reasons.