Note 46 Short-term liabilities
Debts to suppliers and trade credits
Debts to associates and participants
Tax and social security contributions
Liabilities in respect of pensions
Other liabilities and accruals
Total short-term liabilities
The short-term liabilities, accruals and deferred income relate to trade payables, taxes payable and the other short-term liabilities. The interest-bearing liabilities relate to finance raised in euros and in foreign currencies in connection with the Euro Commercial Paper Programme. In order to eliminate currency risks, the foreign currency was immediately converted into euros by means of foreign exchange swaps.