GOVERNMENT DEBTS
January 1st, 2005
Keith NuthallTHE LATEST government debt figures from European Union (EU) statistical agency Eurostat shows that Italy and Greece have a long way to go before breathing easy over their governments' indebtedness. Under the Growth and Stability Pact underpinning the value of the Euro, any country using the currency with debt exceeding 60% of GDP must ensure they are steadily moving towards the black. However, not only have Italy and Greece been recently accused of using creative accountancy to follow these rules, Eurostat now says Greece's debt is 109.9% of its ...
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