The Impact of the European Sovereign Debt Crisis on Public Services and Healthcare Procurement
Europe’s debt crisis is both a continuation of the global financial crisis and the result of the region’s attempts to address the issues that brought an end to a decade of prosperity and unrestricted borrowing.
However, the decisions to support ailing financial institutions, alongside successive attempts by the European Central Bank (ECB) and individual governments to prevent or reduce the impact of a deep recession, has created a new crisis of unsustainable and unserviceable sovereign debt.
For Europe’s big economies, these packages have required profligate investment that has compromised national budgets and created a sovereign debt problem of even greater scale.
This new whitepaper argues that there is no single answer, no silver bullet that will deliver the level of investment and growth that many suppliers enjoyed in the period leading up to the global recession.
However, those organizations able to retain meaningful relationships with the public sector should be ideally placed to take advantage of renewed growth when it finally arrives. To achieve this requires a holding of nerves and the ability to demonstrate a willingness to invest in relationships for the long term, even if the return in the short term will be limited.
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