EUR 350 billion in bad debt written off by European businesses
Highest level of bad debt losses to date and bleak forecast · Well over half of the European surveyed countries show increased payment risks and as much as a third of countries are seen as having an emergency risk profile. · The level of receivables having to be written off due to default on payment rose by 7 percent and corresponded to 3.0 percent of all outstanding receivables among European businesses. In total, receivables for EUR 350 billion were written off. · Only four out of 31 countries surveyed showed decreasing bad debt losses – Denmark, Finland, Iceland and Sweden.