Tag Archive | "national debt"

Eurozone cuts deficits

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BRUSSELS – The European Union’s statistics agency says the 17 countries that use the euro slashed their deficits to 4.1 percent of economic output in 2011, from 6.2 percent in 2010. However, Eurostat said Tuesday that overall debt in the currency union rose to 87.2 percent of GDP from 85.3 percent. Both ratios are far [...]

Spanish national debt hits 17-year high

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MADRID – Spain says its national debt stood at 68.5 percent of GDP at the of 2011, the highest ratio since 1995. The Bank of Spain said in a report Friday this marked a 2.5 point increase from the third quarter of 2011. At the close of 2010 it was 61.2. The debt load, which [...]

Sarkozy: Greece should create fund to avoid bankruptcy

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PARIS – French President Nicolas Sarkozy says France and Germany agree that Greece should place state revenues into a separate fund to pay down its crushing debt and avoid bankruptcy. Sarkozy has also told a Paris news conference with German Chancellor Angela Merkel that Greece’s new leaders must “take their responsibility” and that any new [...]

Greece debt spikes

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BRUSSELS – The EU’s statistics office says Greece’s debt as spiked to 159.1 percent of gross domestic product in the third quarter of 2011. That’s up from 138.8 percent a year earlier, 154.7 percent in the second quarter and by far the highest level in the eurozone. Monday’s figures underline how Greece’s debt continues to [...]