Eurozone Debt Levels Reach Record High
2013-04-25 0:00

By Martin Baccardax | IBTimes


Eurozone government debt levels reached the highest level on record last year, the region’s official statistics office said, even as austerity measures around the single currency area narrowed budget deficits levels amid a deepening recession.

Government debt as a percentage of the eurozone economy 3.3 percentage points to 90.6 percent at the end of last year, Eurostat said Monday in a statement published on its website. At the same time the collective budget deficit of the 17 countries that use the single currency fell to 3.7 percent of Eurozone GDP from 4.2 percent the previous year, Eurostat said. Around the 27-memeber European Union, which includes Great Britain, the figures fall to 85.3 percent and 4 percent respectively.

Britain’s debt was measured at 90 percent of GDP, according to Eurostat, one of only seven members of the European Union to breach the 90 percent threshold. Its annual deficit was pegged at 6.3 percent of GDP, equal to that of Cyprus and larger than any eurozone economy outside rescued Ireland, Portugal and Spain.

[...]

Read the full article at: ibtimes.com



Related Articles


Latest News from our Front Page

Your Smartphone Could be Tracking You Every 3 Minutes, Study Says
2015-04-01 2:24
Your apps want to know where you are Smartphone apps regularly collect large amounts of data on users’ locations, sometimes as often as every three minutes, new research suggests. Researchers at Carnegie Mellon University conducted a study where they asked 23 people to use their Android smartphones normally, and tracked location data requests from each device with specially designed software, the Wall ...
Facebook accused of tracking all users even if they delete accounts, ask never to be followed
2015-04-01 2:14
A new report claims that Facebook secretly installs tracking cookies on users’ computers, allowing them to follow users around the internet even after they’ve left the website, deleted their account and requested to be no longer followed. Academic researchers said that the report showed that the company was breaking European law with its tracking policies. The law requires that users are ...
'Gay cake' bakery discriminated against client over sexual orientation, court told
2015-04-01 2:37
David Scoffield QC, acting for the bakery, said if Lee’s argument was right, a Muslim printer could not turn down a contract to print leaflets about the prophet Muhammad, an atheist could not turn down an order saying God made the world and a Roman Catholic printer could not decline making leaflets calling for the legalisation of abortion on demand. Judge ...
Gay rights groups criticize Indiana religious liberties law
2015-04-01 0:10
Editor's note: Would it be ok if a court forced a bakery operated by homosexuals, to make a cake for a Christian that says: "Homosexuality is a sin"? What would the reactions be? One way tolerance? Respecting peoples beliefs extends in all directions or in no direction. Indiana Gov. Mike Pence (R) signed a religious liberties bill into law Thursday that has been ...
Daily Show's Trevor Noah under fire for Twitter jokes about Jews and women
2015-04-01 0:01
Trevor Noah – the surprise choice to succeed Jon Stewart as high-profile host of satirical news program The Daily Show – has come under fire for a series of controversial tweets he posted before his appointment. The South African comedian – son of a Swiss-German father and half-Jewish South African mother – was criticised for having made tasteless jokes about Jews ...
More News »