just form an orderly queue

December 17, 2009

Perhaps unsurprisingly, creditors start lining up. You can’t blame them for getting worried… Greece was one of those countries that announced that the whole population would be vaccinated against swine flu, rather than the more cost saving selective vaccination followed by others. This will certainly add fuel to the fire, as it will raise concerns that the true amount of Greek deficit is not yet well defined.

Dec. 17 (Bloomberg) — European health-care companies told the European Commission that Greece’s public-health system owes them almost 7 billion euros ($10 billion) for medicines and other items, the Financial Times reported. The companies’ trade body has filed a formal complaint with the commission, saying the Greek government is in breach of an EU directive on timely payment of bills, the newspaper said. Yiannis Chryssopathis, the legal counsel of Greece’s
pharmaceutical trade group, said drug and device suppliers were owed 6.5 billion euros by last summer, the FT said. The Greek health ministry has made no regular payments since 2005, when a settlement was reached on outstanding bills from previous years, the newspaper added.

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