European R European Regulations For Debt and Deficitegulations For Debt and Deficit

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: ESA95 is a system for producing economic statistics.
As such, it records the economic reality of transactions rather than their legal form. This can
involve looking through complex financial operations to understand who bears the financial
risks and who has control over the rewards, irrespective of how the contracts have been
constructed. In the context of measuring Government Deficit and Debt, this search for the
economic reality affects such matters as the following:
The classification of units
The timing of transactions
The nature of a transaction.

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