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Greenspan to French finmin:US lost deficit control

Discussion in 'Economics' started by K.C., Sep 26, 2005.

Pabst
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Quote from Hydroblunt:

How recent is your info?

US is slightly over 70% debt of GDP, Germany & France are in the 60-65% mark. Eurozone overall is at 70% but that's due to counties like Greece & Italy who are heavy in the hole, over 100% debt to GDP.

Key difference is that Europe is not growing and hence is not funding their growth by exponential debt like USA is. Plus, the currency markets seem to hold the Euro as the stronger fiat money. But all the debt figures for developed nations are in the same ballpark, it may be the new standard. It may also be the perfect formula for a worldwide financial crisis.
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I have France at 65.1% and the U.S. at 64.6%

#11 Sep 26, 2005

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