Public institutions of the Euro area are not allowed to resort Central Bank loans
Article 123 of the Lisbonn Treaty prohibits to European Central Bank and Central banks of Euro member States to fund any public entities. Town halls, governings, public hospitals which haven’t sufficient incomes to fund their expenditures have recourse to private bank loans or financial market. And, with the exception of Germany, interest rates are high. In France, it is the second main charge of its budget.