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German Debt Exceeds 2 Trillion Euros

 
 
 
 
 
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German Chancellor Angela Merkel

Newly released figures in Germany indicate that the European country’s debt exceeded two trillion dollars at the end of this year’s third quarter.

According to provisional official data published on Tuesday, Europe’s largest economy had a debt totaling 2.028 trillion euros (USD 2.65 trillion) at the end of the third quarter of this year.

A statement by the national statistics office says that the data presents a fractional increase of 0.5 percent or 10.4 billion euros in comparison with the debt recorded for the end of the second quarter.

The newly released figure amounts to more than 80 percent of Germany’s gross domestic product in 2010, a figure which is 60 percent higher than the ceiling laid down by the EU.

Nearly 1.3 trillion euros of Germany’s overall debt has been attributed to the federal government.

This is while the remaining 700 billion euros belongs to regional states and municipal authorities.

However, the country’s debt ratio is better off than many other eurozone countries.

The German economy suffered badly as a result of the eurozone financial crisis, which began in 2008, registering its worst recession in six decades before rebounding with a 3.7-percent growth in 2010.

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  • BG

    Hows the right to irradiate and sterilize Americans coming on?

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  • The Third Reich was never in debt. Neither was Fascist Italy as far as i’m aware.

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  • BG

    What does one do with a clique of forgers loaning each other the notion of wealth whilst bonusing themselves via taxation?

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  • BG

    The concept of criminals exempt from any accountability within or without of their ranks having a pernicious effect upon easily led and utterly inept business leaders who emanated from their own business schools and who now infest positions within hithertoo legitimate and prosperous businessess is a interpretation of events you don’t see much discussed in the sham of ‘Europe’.

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  • BG

    You know,EU funding for those so desparate for work they will even take a Job drawing off EU cash in the sham industry.

    If the Germans are so damn smart why is German industry stuck in Germany,why not taking advantage of in more abusive regimes such as Britain.

    Is it because the rabid inbreeds who dictate such things will only allow import licences for German machines that British business leaders will try to impress potential clients with before fully depreciating the equipment within half the lifetime so they can feel powerful when ordering the hapless Germans to fix it or else and also enjoy the satisfaction of organising their workforce in a demeaning fashion whilst trying to milk the other half a lifespan out of a piece of plant they do not permit to be maintained in a planned fashion in accordance with the suppliers recomendations as they don’t want to pay the money prefering to complain about waste levels with which they can harangue the workforce?

    Don’t want the Germans in counry saying this is bullshit and a slow and painful way to withdraw a company from it’s own marketplace!

    It happens.

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