Garbage Piles Up in Spain as Unpaid Municipal Bills Mount; Green Shoot of the Day: Cement Consumption Falls 34%

by Mike Shedlock
MISH’S Global Economic Trend Analysis
As Spain attempts austerity by cutting back payments to regions, those regions run out of funds to pay bills.
For an interesting case-in-point, please consider (via Google translate from El Economista) Municipalities Owed €2,000 Million, Companies Refuse Collection and Cleaning

Defaults on local councils put back on the ropes to urban sanitation companies. No respite worth. If the final plan provider payment partially interrupted the problem, the situation again becomes serious. “Since the beginning of the year delinquencies has skyrocketed. In just eight months to August, the accumulated debt of the sessions with cleaning companies was around 1,680 million.

Continue Reading at GlobalEconomicAnalysis.Blogspot.com…