Monday, June 29, 2015

Greece Is Not The Only European Country 'Drowning' In Debt

The Telegraph: European debt crisis: It's not just Greece that's drowning in debt

With Greece drowning in debt and facing exit from the eurozone, we had a look at how the other EU countries are coping with their debt .

While the eyes of the world are on Greece and its potential default on its debt, there are several other countries in the EU that have debts to rival the struggling nation.

Altogether there are six European nations whose debts are larger than their economic output, and 16 that have debts larger than the 60%-of-GDP limit set out in the Maastricht Treaty.

Greece’s public debt is, unsurprisingly, the highest in the EU - standing at 177% of its GDP. Italy and Portugal are the next most indebted countries, with debts of 132% and 130% of national economic output respectively.

WNU Editor: This is a heads-up on the European countries that may be impacted next by high debts and the unwillingness and/or inability to pay them.

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