30 Jun 2015

Greece - one of only two European countries to decrease public sector debt between 2011 and 2014. Give them a break!

I've just had another look at the levels of Public Sector Debt in the European Union - figures that I reported in full back in April.

This time, I've compiled a table of the change over the four year period from the end of 2011 to the end of 2014. Here are the results (measured in billions of Euros).

Greece decreased its debt by nearly 11%. The only other country to decrease debt was Norway with -7%. Every other country increased the amount of debt. The UK incresed debt by nearly 30%. France by 16.2%. I note that France just reveled that they had borrowed another €51.6 billion in Q1 2015.

The hypocrisy is breathtaking. Any politician involved in ganging up on the Greek people should be ashamed of themselves. The Greeks should be getting a medal for sound government, not treated like shit.

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