Note 46 Short-term liabilities
€ million | 2017 | 2016 |
Short-term liabilities | ||
Debts to suppliers and trade credits | 8 | 12 |
Debts to associates and participants | - | 9 |
Tax and social security contributions | 79 | 62 |
Liabilities in respect of pensions | 4 | 4 |
Interest-bearing liabilities | 232 | 81 |
Other liabilities and accruals | 66 | 81 |
Total short-term liabilities | 389 | 249 |
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.