It's Your Choice, Europe: Rebel Against the Banks or Accept Debt-Serfdom

Re: It's Your Choice, Europe: Rebel Against the Banks or A... by viandante on Tuesday December 06, 2011 @06:53AM (#3318942)

Germany has 80% debt/gdp ratio.

[ Parent | on HN ]

Re: It's Your Choice, Europe: Rebel Against the Banks or A... by nl on Tuesday December 06, 2011 @06:13PM (#3321579)

Germany has 80% debt/gdp ratio

Yes, and...?

Lots of people have a home loan that is greater than their annual income (ie, their debt/gdp ratio is greater than 100%) - even in places that had no housing bubble.

A high debt/gdp ratio isn't bad unless you can't service your debt. Germany clearly can (as can most countries when the economy is growing)

[ Parent | on HN ]

Re: It's Your Choice, Europe: Rebel Against the Banks or A... by viandante on Wednesday December 07, 2011 @01:51AM (#3322827)

Italy and other South European countries are not growing.

[ Parent | on HN ]

Re: It's Your Choice, Europe: Rebel Against the Banks or A... by nl on Wednesday December 07, 2011 @05:45PM (#3326531)

Exactly.

But to claim that is because of some "welfare state" thing.. the facts just don't back that up.

[ Parent | on HN ]

Re: It's Your Choice, Europe: Rebel Against the Banks or A... by viandante on Thursday December 08, 2011 @05:42AM (#3328588)

I am not claiming that. I am saying that the problem with Europe is public debt and public spending. And that at European growing rates, expecially in the south, public spending cannot go up.

[ Parent | on HN ]