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/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 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 […]