What are ‘provisional twelfths’ and what does that mean for your wallet? Economist Geert Noels explains

“The provisional twelfths mechanism indicates that the government is in a coma. It is nonsense that no additional debts would be incurred in this way. The government spends too much and this system continues to do so.” Geert Noels makes no bones about it: the system of provisional twelfths is pushing the paralyzed country further into the red. But what effect does that have on your wallet? The economist explains it using five questions.

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