At all costs – this is the motto under which Europe generously spent money that it did not have in recent years. Now new rules for the budget are planned.
You cannot spend more than you earn in the long run. This platitude applies privately, but not for states. In the EU there are strict rules on debt that set ceilings – only: almost nobody adheres to them. The key figures are three percent and 60 percent. The new debt of a state may not exceed three percent of the gross domestic product, the total debt may not exceed 60 percent. Numerous countries, especially Greece and Italy, are miles away from this. Overall, government debt in the EU has increased dramatically in recent years.
Source: Krone
I am Wallace Jones, an experienced journalist. I specialize in writing for the world section of Today Times Live. With over a decade of experience, I have developed an eye for detail when it comes to reporting on local and global stories. My passion lies in uncovering the truth through my investigative skills and creating thought-provoking content that resonates with readers worldwide.
