April 23, 2012
Greece tops list as debt-burden in eurozone soars
The Wall Street Journal article on the on-the-books and off-the-books manipulations that are part of the list of debt rankings that is currently haunting the eurozone:
The debt of the euro region rose last year to the highest since the start of the single currency as governments increased borrowing to plug budget deficits and fund bailouts of fellow nations crippled by the fiscal crisis.
The debt of the 17 euro nations climbed to 87.2 percent of gross domestic product in 2011 from 85.3 percent the previous year, official European Union figures showed today. That’s the highest since the euro was introduced in 1999. Greece topped the list with debt at 165.3 percent of GDP, while Estonia had the least at 6 percent of GDP.