Following a precipitous decline in tax revenues, the Tsipras administration has been scrambling to raise funds, sequestering the cash reserves of state entities, raiding pension funds and postponing payments for supplies.
Fearing the worst, the Greeks are holding back on taxes (revenues were €495m below target in the first four months of 2012) and the government is postponing payments to suppliers.Some economists think that Greece could nonetheless avoid a sudden departure from the euro.
But closing the gap also required fiddling the books, postponing payments to local government and short-term borrowing of some $14 billion.Special report Arnold's big chance The wrong sort of government Stuff of dreams A bad place to do business?
The delinquency totals likely would be higher if borrowers weren't postponing payments.
There's little public data that details borrowers in deferment or forbearance who are postponing payments due to graduate school or military service, for example, versus financial hardship or unemployment.
Data only showing the portion of a college's graduates who are on time on their loan payments, rather than the portion of them who are postponing payments due to financial stress or the share of students who are only paying off the accumulating interest on their loans, could mask problems at underperforming colleges, Nassirian said.
When the Danes stalled and prolonged the fulfillment of some provisions of the Treaty of Roskilde by postponing payments and not blocking foreign fleets from access to the Baltic Sea, and with half of the 2,000 Danish soldiers that were obliged by Roskilde to enter Swedish service deserting, the Swedish king embarked from Kiel with a force of 10,000 men on 16 August.
Don't fall into the trap of paying off old debts by postponing payments of current debt.
The man he calls Kamzoil, who sometimes sounds like a caricature invented by an anti-Semite, brags about how he postpones payment of bills.
Some £108m of the cash is to underwrite the new "deferred payment" scheme, by which councils will enable homeowners to postpone payment of long-term care costs until after their death, and so avoid selling their properties during their lifetime.
