Der Spiegel has this terrific set of graphics looking at the Euro Zone’s problem children:


When Bonds Come Due

Budget Deficits EuroZone Countries

Category: Credit, Current Affairs

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

15 Responses to “Euro Zone’s Problem Children”

  1. The Curmudgeon says:

    The fucking Eurozone average budget deficit exceeds its own rules for fiscal discipline. Need some retroactive rule re-writing, I suppose.

    And this is all fixed? Europe’s median age is roughly forty, across the board, and we are to believe that they’ll grow their way out of this? Nonsense. They’re not growing, they’re dying.

  2. alpha_bet says:

    Ouch, take a look at the number Italy is going to have refinance this year alone, let alone 2011 and 2012. Better get that bailout money soon before its all used up. The Euro is still in for some serious problems.

  3. Not one country out of the lot can keep within its budget deficit targets. That is outrageous

  4. forcast says:

    En europe,nous vivons actuellement trois krachs: un krach monétaire avec la chute de l’euro et accessoirement de la livre sterling, un krach obligataire avec la chute des obligations d’Etat des pays du sud de l’euroland, un krach boursier avec la chute des actions partout dans le monde
    desolé mais mon anglais n’est pas tres bon

    In Europe, we are now three crashes: a currency crash with the fall of the euro and the pound sterling incidentally, a bond market crash with the fall of government bonds of countries in the south of the euro zone, with a stock market crash falling shares around the world
    sorry but my English is not very good

  5. doug says:

    your english is much better than my french. Thanks.

  6. quiddity says:

    Malta is doing pretty well. I’d say that’s reason for optimism for the whole lot.

  7. @forcast

    What are the common people saying about gold over there? Is it gaining interest?

  8. CurrencySpider says:

    actually, Italy is in the best position to get out of this currency crisis.

  9. forcast says:

    It became more than an interest in the Gold, in some cities there are almost as many coins (Napoleon)
    Here the rise in euro gold has become parabolic

  10. R. Cain says:

    unfortunately, the USA fits right in:


    Public Debt/GDP ($B)
    9,881.9/14,727.1 = 67.1%

    Deficit/GDP ($B)
    1,565.6/14,727.1 = 10.6%

    Unemployment rate = 9.9%

  11. Ole Drippy says:

    Funny.. Not ONE surplus? It could be surmised that even if we were taxed at 100% government would find a way to spend even more than that… Pathetic.

  12. rktbrkr says:

    Merci Forcast, I was dusting off my old school French lessons trying to discern what you wrote en Francais.

    Maybe Papandreou could say “apres moi, le deluge”

    The Euros don’t have firm commitments for funding the announced bailout and this is no “slam dunk”

  13. chalimac says:

    Why don’t you put the US data for comparison?

    US Public debt; 98% of GDP
    Budget Deficit: 10.64% of GDP
    Unemployment: 10%

    Portugal has better numbers than the US.

    The US started this crisis with years of promoting unregulated market fundamentalism and now the US wants to lecture Europe on the need of tough social cuts. Here in Europe we do not need more US and IMF recipes.

  14. purple says:

    Surplus is mostly absorbed by the private sector in a capitalist system, the public sector raises cash by borrowing or taxing (with much resistance) from the private sector. Public debt is part and parcel with a capitalist economy almost by definition. Looking at the history of the US this seems to be true.

    More immediately, how does one eliminate public deficits without crashing the economy when unemployment is at 8% in the OECD countries as a whole. Don’t count on China – with its over capacity – being the consumer of last resort.

    Good luck with the austerity project in a system built on selling stuff.

  15. BTG973 says:

    I understand the unemployment is 10% in Greece, but I heard 1/3 of the employed people work for the government? If I’m trying to figure out how strong their tax base is, in order to pay off debt, isn’t it important to see how many people work for the government or are full time military?