Wednesday, April 3, 2013
Credit & Debit
A puzzling situation of give and take is frequently in the news these days. No, not April's Fool news.
Assume you're a supplier of goods or services to one of the Italian public companies. Health care, trains, you name it. Whether at state, region, province, commune or city level, it doesn't matter. All public stuff.
Assume you MUST pay all your taxes in due time. Well, that's NOT much of an assumption and, of course you do.
Now assume the government pays you for your supplied goods and services. Well, now that IS just an assumption.
You are one among 215,000 suppliers affected by a crippled, irrational system.
The total past due amount that public companies owe to suppliers is 90 billion Euro.
On average, a supplier is being paid after 500 days after delivery. Many cases report past due payments of 1300 days and my maths translate this into 3 years, 5 months and 3 weeks.
As a comparison, consider that France pays after 65 days and Germany after 35 days.
Each of those 215,000 suppliers has an average credit of 418,000 Euro. It's interesting to note that credit and debit aren't managed as plus/minus on the same book and many suppliers slip into a paradox leading to bankruptcy and countless lost jobs.
Some say Italy will make it through tough times. How?
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Exchange the 90 billions for 9 billion euros and it is copia indentica la Grecia :))
ReplyDeleteWe'll answer the "how" when we meet up out there my friend (and also solve the middle east issue don't forget eh?)
Italy has five-fold population than Greece, which owes 9 BE to suppliers.
ReplyDelete9 x 5 = 45, hence 90 BE owed in Italy is twice as much. Double trouble magnitude, and the same old bloodsucking clowns sitting on their golden chairs keep their careless, disgusting attitude.
The only answer to "how" is bloodless rebellion for a radical change. One-fourth of Italians voted for M5S, the rebel "cleansing" party which, as a single party, ranked #1 out of the polls. Not enough. Not yet, but close. Since WW2, this is the first time for hope.
100% agree on the bloodless radical change but is this hope on Grillo? I wouldn't feel like trusting a guy who acts so much and in such a way on stage like he does but you are much closer to the whole thing than I am therefore you sure know much more than I do.
ReplyDeleteI wish all the luck and wisdom in any case - we both need both of them in both sides :)
All I can say is that it's a sign. Some say the Grillo crew is inexperienced and incompetent to sit in our parliament. Look who's talking! Should this be true, my take is that they can't be worse than the same old clowns who have ruined this country and, for this very reason alone, deserve to be kicked out for good.
ReplyDeleteMeanwhile, the "old school" politicians propose new polls for June - of course, without reforming the current abominable election laws - in hope to win this time. As usual, everyone wants to win to run their business, so, Grillo is much welcome to me for the time being. Let's see.