The eurozone, currently wrestling with fiscal imbalance and sovereign debt risk, has a strong and autonomous central bank, but is fiscally fragmented and only partly unified politically.
For landlords and developers, pay-as-you-go billing dramatically reduces debt risk -- helping to secure the income and improve cash flow for a viable community energy scheme.
The statement, published on its website, also detailed three other levels of debt risk events, based on less severe conditions, such as a lower percentage of bond payment defaults.