Eurozone Debt Levels Reach Record High
2013 04 25

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

CIA torture is reason for France to exit NATO – Le Pen
2014-12-17 20:20
The shocking revelations of CIA torture techniques give France a reason to exit NATO, National Front party leader Marine Le Pen said on Saturday. The report on the CIA’s former interrogation practices has drawn wide criticism since its release. “If indeed everyone is outraged by the tortures used by the US then, let’s leave NATO,” Le Pen said during an interview ...
900 Documented Examples of Obama's Lawbreaking, Lying, Corruption, Cronyism, Hypocrisy & Waste
2014-12-17 20:00
By Tim Brown from sonsoflibertymedia.com: Our friend, Dan from Squirrel Hill, has updated his list to 900 documented examples of Barack Obama¡¯s lying, lawbreaking, corruption, cronyism, etc. He began with 252 examples, then quickly grew to 504 and later to 694. Recently, he added more than 200 more examples of the usurper-in-chief¡¯s unlawful acts. Every President, every politician, and every human ...
A Step Closer to the Mysterious Origin of the Viking Sword Ulfberht
2014 12 16
The universe is full of mysteries that challenge our current knowledge. In "Beyond Science" Epoch Times collects stories about these strange phenomena to stimulate the imagination and open up previously undreamed of possibilities. Are they true? You decide. Ulfberht was like a Medieval luxury brand for swords—but unlike your Gucci purse, the swords were of such high quality they were almost ...
Israel proposes natural gas pipeline to Southern Europe
2014-12-16 12:39
Israel is pushing for the European Union (EU) to approve the construction of a pipeline running from the Middle Eastern country to supply Cyprus, Greece and Italy with natural gas. The proposed EastMed pipeline will carry gas from the Tamar and Leviathan gas fields located in the Mediterranean Sea, to Southern Europe. As the Times of Israel reported in an ...
As Robots Grow Smarter, American Workers Struggle to Keep Up
2014 12 16
A machine that administers sedatives recently began treating patients at a Seattle hospital. At a Silicon Valley hotel, a bellhop robot delivers items to people’s rooms. Last spring, a software algorithm wrote a breaking news article about an earthquake that The Los Angeles Times published. Although fears that technology will displace jobs are at least as old as the Luddites, there ...
More News »