Is the European Union headed for another debt crisis? \ stacker news ~econ

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Is the European Union headed for another debt crisis?mises.org/mises-wire/european-union-headed-another-debt-crisis

361 sats \ 15 comments \ @Undisciplined 6 Aug econ

By Aaron Sobczak

With the European economy remaining relatively stagnant and government debt levels climbing to disturbing levels, it's possible that some of these countries will see another debt crisis like we saw in Greece more than a decade ago.

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62 sats \ 6 replies \ @Coinsreporter 6 Aug

EU countries Debt to GDP ratio 2023

https://m.stacker.news/43998

The most probable are Italy and Spain by this but looking at the posts by @TomK Germany seems on the verge of falling!

29 sats \ 0 replies \ @TomK 6 Aug

and always bear in mind that the future payment obligations will grow immeasurably and in some cases double these debts. in addition, large parts of the national debt are parked in shadow budgets. in Germany, this is certainly 10 to 15% of gross domestic product

47 sats \ 3 replies \ @Undisciplined OP 6 Aug

It sounds like Germany's been doing some very creative bookkeeping to avoid being higher on that chart.

31 sats \ 2 replies \ @TomK 6 Aug

I think they're all doing it

47 sats \ 1 reply \ @Undisciplined OP 6 Aug

That figures. You're all one big happy family, after all.

33 sats \ 0 replies \ @TomK 6 Aug

Lol. Yeaaah But let's see whom we're sending to court at the end

0 sats \ 0 replies \ @0xbitcoiner 6 Aug

It's the law of the land: 60% is the ceiling! Can you even fathom a world without it?

55 sats \ 6 replies \ @grayruby 6 Aug

They just papered over the last one so I am going to say they are still in the midst of the same multi decade debt crisis.

50 sats \ 5 replies \ @Undisciplined OP 6 Aug

I'd say that's a reasonable perspective, especially with some of the charts @TomK has shared with us. It does look like they never really got out of the previous crisis.

77 sats \ 0 replies \ @TomK 6 Aug

Brussels' answer is already on the table: capital controls, a strong surveillance state and a censorship regime, which Elon Musk is currently experiencing, and an interventionist approach to the pillars of the economy such as the energy sector or the arms industry. the European Union will also introduce a new level of financing for its own policies with the so-called Eurobonds, which will make everyone equally liable. The introduction of these bonds is a further breach of the rules, which was expressly forbidden at the beginning of the European Union. National sovereignty is thus being gradually eroded.

35 sats \ 3 replies \ @grayruby 6 Aug

Tom is the Euro savant.

40 sats \ 2 replies \ @TomK 6 Aug

you would never believe how much I care about Europe with its history, traditions and culture. I am so critical because I simply want to see it flourish again in its regional diversity and regional sovereignty

May I add at this point: I do not want to have to experience Euro imperialism and colonialism any more

47 sats \ 1 reply \ @grayruby 6 Aug

Your passion for Europe is evident. Keeping doing your thing.

20 sats \ 0 replies \ @TomK 6 Aug

Thank You. Imagine a new era of European humanism, based on libertarian base values...

0 sats \ 0 replies \ @Satosora 6 Aug

In all seriousness, I thought greece and italy would have another debt crisis sooner rather than later. But they have held out, covid era didnt help much.