EU and Eurozone break both the spirit and the letter of global debt rules

EU and Eurozone break global debt rules

Published on 14th April 2023

The EU and its member states position themselves as a cornerstone of the rules-based international order, but they break its financial rules in both letter and spirit by failing to fully report their financial liabilities. The key measure tracked by Eurostat – ‘General government gross […]

EU and Eurozone debts are a risk to global financial stability

EU/Eurozone debts: a risk to global financial stability

Published on 13th April 2023

EU and Eurozone member states understated their debts at the end of 2021 by 44% of EU GDP and their total liabilities by 70%. This represents a major risk to global financial stability, as the understatement causes shortfalls of capital and collateral at the […]

EU and Eurozone are massively over-indebted – but official figures obscure it

EU and Eurozone are over-indebted

Published on 12th April 2023

EU and Eurozone member states fail to fully report their financial liabilities. The key measure tracked by Eurostat – ‘General government gross debt’ – is circumvented to such an extent that, based on year-end 2021 figures, debts of around €6.4 trillion failed to be registered, and contingent […]

EU borrowings for Next Generation EU contradict representations made to bond investors

Published on 25 November 2020

There is ongoing dispute about the next EU budget of which the COVID-19 recovery package (“Next Generation EU” or “NGEU”) is a part, on the basis that the money should or should not be tied to adherence to EU diktats in other areas.

A focus on this area is convenient for the […]

The Great EU Budget Deception – the 9th Brexit Paper published by Global Britain

Published on 28 August 2020

We have had another paper in the Brexit Papers series published by Global Britain.

It is subtitled “The EU 2021-2027 Multiannual Financial Framework and Coronavirus Recovery Fund: a dagger aimed at the Republic of Ireland, or a con trick on all EU citizens and on financial market investors?”

It is […]