The eurozone if only the countries that met the 60% government debt-to-GDP ratio and 3% government deficit-to-GDP ratio criteria in 2020 were allowed to stay in.
The eurozone if only the countries that met the 60% government debt-to-GDP ratio and 3% government deficit-to-GDP ratio criteria in 2020 were allowed to stay in.
28 comments
smh finally a chart where Bulgaria could be green, but you had to do it for 2020 :/
Source – https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Government_finance_statistics&fbclid=IwAR0vs1BhYnCtXS-8u2aoc0xdy6XDIctIM1jX9v_hYiYE1yCaANbnx4Yp-k4#General_government_surplus.2Fdeficit
Sweden and Denmark enjoy yourselves.
Taking 2020 as a reference for deficit and debt rules is plain idiotic.
Sweden “technically” does not meet the criteria.
They forgot to join the ERMII which is a eurozone demand.
https://en.wikipedia.org/wiki/Sweden_and_the_euro
According to the colors, no countries are in the eurozone?
The requirements are very outdated and also based in bad economic theories.
It’s interesting because Denmark has the 3rd highest household debt to gdp in the world [https://en.wikipedia.org/wiki/List_of_countries_by_household_debt](https://tradingeconomics.com/country-list/households-debt-to-gdp) but not public debt.
Borat voice
#GREAT SUCCESS
Well clearly the rules are wrong….
Im colorblind. Is everything just red?
There is no deficit to gdp limit for 2020 or 2021, since the rules are still suspended.
>The rules, which set limits on borrowing by European governments to protect the value of the euro, are suspended until the end of 2022 to give member states more leeway in fighting the economic slump caused by the coronavirus pandemic.
[https://www.consilium.europa.eu/en/policies/coronavirus/covid-19-economy/](https://www.consilium.europa.eu/en/policies/coronavirus/covid-19-economy/)
So technically, the map is wrong. Everyone would be allowed to stay regardless.
Its quite entertaining seeing the blind EU supporters having a meltdown over this statistic in the replies.
Local spending of those debts could theoretically bring back the money into the system.
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OR even better some wise pending on the best possible investments with long term returns over many decades.
Putin meets all the criteria
A good reason why Denmark and Sweden keep staying outside the Euro, the members of the eurozone are reckless economies (looking at you southern Europe).
The Governing Council of the European Central Bank (ECB) decided at its meeting on 16 December to reduce the pace of net asset purchases under the Pandemic Emergency Purchase Programme (PEPP) in Q1 2022.Asset purchases under this programme will cease by the end of March and will amount to €1.85 trillion.
In the second quarter of 2022, the regulator will accelerate from EUR 20 billion to EUR 40 billion per month within the framework of the previously launched asset-purchase programme (APP). It will spend €30bn monthly in Q3 and €20bn from October 2022 onwards until it is no longer needed.
This dept/GDP ratio is used here to brag about economic success. But they never calculate it in EUR, so it goes up with the devaluation of our local currency. They call it growth.
Most Swedes think joining would be bad for our economy, but doesn’t Germany have a better economy than us while they are in the Eurozone?
Czechia isn’t in the eurozone.
does usa or japan qualify then?
According to the arguments that lead to this rules we should be doomed. Maybe those arguments were not that solid or even based on reality.
Those lazy southerners in Germany and the Netherlands ought to learn some fiscal discipline /s
Nationalist propaganda is so cute.
Netherlands made it lol
Bruh, the exact year Finland stopped being able to meet the criteria 😐
Funny how that happens to be the only two countries witht the most relaxed covid measures.
Just proof that laws are written on paper, not stone, hence have to be changed!