Fun fact: The EU enshrined a 60% debt-to-GDP rule into law to prevent excessive government borrowing from destabilizing its monetary union.
Today, 13 of its 27 countries exceed that limit.
Turns out, governments are much better at writing fiscal rules than following them.
Today, 13 of its 27 countries exceed that limit.
Turns out, governments are much better at writing fiscal rules than following them.
🇪🇺 The EU owes €15.95 trillion, 82.9% of its GDP
Italy is at 139.9%, France at 119.1%, Belgium at 110.2%, Spain at 101.4%
But somehow the plan is always one more fiscal rule nobody follows...View quoted post on X
