France and Germany, two major importers of canned tuna in Europe, were largely reliable last year, making payments within a “reasonable†time frame, according to the European Payment Index 2012.
The research, by Europe’s leading credit management services company, Intrum Justitia, surveyed more than 7,800 European businesses in 28 countries.
The Scandinavian countries, in addition to Finland and Iceland, came out on top and showed considerable strength by making their payments on time or within a “reasonable†period.
However, the leading tuna producing nations in Europe made an excessive amount of late payments last year, landing them at the bottom of the reliability scale. According to the Index, Spain’s punctuality was “very poor,†while Italy’s was “worrisome.†Both countries are also significant tuna importers, with canned tuna being the second most consumed seafood item in Spain, behind fresh hake.
Similar to Italy, the payment schedule from the UK – another major tuna destination – was also “worrisome.†Like many other countries, the UK displayed increasing debt write-offs.
According to the Index, 57% of businesses in Europe claimed to have problems with liquidity last year due to late payments, a 10% increase from 2011.
The Index also reports that European businesses wrote off a record high of EUR 340 billion in debt in 2012.
