Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
And that is a illusion. The Irish debt did rise fast because they had a deficit caused by the economic crisis. Negative growth, a tax system depending on the house bubble, 13% unemployment will cause a significant deficit.

Take 2010. Of the famous 30% deficit, 20% or so are guarantees etc. to the banks. But 10% is the ordinary deficit. And these "ordinary deficits" alone have caused a significant part of the debt.

by IM on Sat Feb 5th, 2011 at 06:56:42 AM EST
[ Parent ]

Others have rated this comment as follows:

Display:

Top Diaries

A Tale of two Budgets

by Frank Schnittger - Oct 3
18 comments

Sweden falls to the Nazis

by IdiotSavant - Sep 15
16 comments

Focus on Josep

by Oui - Sep 24
36 comments

Occasional Series