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:

Related Articles

Latest News from our Front Page

ISIS to France: "We will be coming. Victory has been promised to us by Allah"
2015-11-26 3:33
Homegrown French ISIS fighters have issued a chilling threat of new attacks on France just 24 hours after the terrorist group used movie footage of the Eiffel Tower's collapse in another video.  A balaclava-clad militant is seen warning 'we will be coming, we will come to crush your country' in footage posted on Twitter earlier today. It is unclear where the film ...
ISIS teenage 'poster girl' Samra Kesinovic 'beaten to death' as she tried to flee the group
2015-11-26 1:07
She appeared in social media images for the group carrying a Kalashnikov and surrounded by armed men A teenage girl who ran away from her Vienna home to join Isis in Syria has reportedly been beaten to death by the group after trying to escape. Samra Kesinovic, 17, travelled to Syria last year with her friend Sabina Selimovic, 15. The two became a ...
The Right Stuff's flagship podcast "The Daily Shoah" has been censored by Soundcloud
2015-11-25 22:56
Editor's note: The PC corporate moral police strike again. Just as Radio 3Fourteen & Red Ice Radio were censored from iTunes, The Daily Shoah was pulled from Soundcloud today. As per usual, there is a double standard, they allow any kind of anti-White material: No counter culture humor making fun of the genocidal mainstream garbage is allowed! ... From: Soundcloud took it upon ...
Merkel Welcomes A Million More: Vows To Stand By Refugee Policy Despite Security Fears
2015-11-25 21:05
Chancellor Angela Merkel vowed on Wednesday to stick to her open-door refugee policy, defying criticism at home and abroad which has intensified due to growing fears about a potential security risk after the Islamist attacks in Paris. Conservative Merkel faces splits in her right-left coalition and pressure from EU states, including France, over her insistence that Germany can cope with up ...
Paris Terrorist Was Gay 'Rent Boy', On The Run From Islamic State And Police
2015-11-25 20:16
The elusive eighth Paris attacker and one of three brothers implicated in the atrocity reportedly frequented gay clubs before the attack. He may have backed out of his mission at the last minute, and is possibly on the run from Islamic State as well as authorities. “We had him down as a rent boy, he was always hanging out with that ...
More News »