The Economy of Catalonia

More particularly, these rules will be discussed in the second part of this
paper.
Debt is often studied per se without taking into consideration that the
distribution of rights and obligations entails the distribution of assets. In
the third part of this study we will consider various criteria for the distribution
of assets according to the different types of property.
Last of all, we will take a look at the various scenarios of negotiation.
Determination of debt
Debt of the Spanish State’s public sector
Net debt of the Spanish Central Administration
2000 297,121
2001 297,685
2002 303,707
2003 302,625
2004 314,084
2005 313,704
2006 308,145
2007 300,266
2008 349,927
2009 468,356
2010 532,484
2011 605,129
2012 700,014
2013 1st Q 733,456
Source: Own work based on data from the Bank of Spain.
Table 1. Debt of the Spanish public sector 2000-2013. Net debt in financial assets of
the Spanish Central Administration (data in million euros)
Two methods are commonly used to determine the debt of the Spanish
public sector: the outstanding total liabilities method and the Protocol
on the Excessive Deficit Procedure (EDP). The EDP is commonly used
for the analysis of State deficits 26 and this is method that we will use in
26. The definition of debt according to the EDP is governed by Regulation (EC)
No. 479/2009 of 25 May 2009, which refers to the ESA. This regulation obliges the
EU Member States to send the data of this definition of debt by subsectors to the European
Commission and specifically to Eurostat.
148 The Economy of Catalonia