Streets not paved with gold

“When it becomes serious, you have to lie,” said Jean-Claude Juncker about secret meetings held to discuss the eurozone crisis. But the president of the EU could also have been commenting about government spending in Europe on construction projects.

Money has been promised in many countries, but has proved slow to materialise. This has hit demand for bitumen hard, at a time when Europe remains oversupplied with too much of the bottom of the barrel product.

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