The trick is to start with an already absolutely massive debt! Then you can be proud to only have a huge but probably serviceable debt..
Joking aside, this observation is at least somewhat encouraging.
Watch our country keep voting for the same socialist and communist dumbfucks who do shit like subsidizing minimum wage increases and they’ll still somehow increase that debt. Parliamentary and governmental elections on the 30th, lets see what comes of it.
Quiting euro area would be better.
I think this is basically impossible to predict and not clearly stating that seems very dishonest to me. No one can predict the future fro 20 years and if Southern European countries would really want to reduce their debt they could raise taxes (that would be dumb and hurt their people and economy but they could).
Spain also reduced their debt to GDP by 5% from 2014 to 2019, I don’t know why they shouldn’t be able to pick that up again in the next few years.
In 20 years every southern European country can reduce its debt to nothing, or go bankrupt in another huge crisis. That’s completely unpredictable. 20 years before 2010 the Soviet Union still existed and half of Europe was communist, 20 years are long enough to totally transform a country. 20 years is the time between WW1 and WW2. Everything can happen in 20 years from 1929 to 1949 Germany has gone from Democracy to Nazi dictatorship and total war and back to democracy.
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The trick is to start with an already absolutely massive debt! Then you can be proud to only have a huge but probably serviceable debt..
Joking aside, this observation is at least somewhat encouraging.
Watch our country keep voting for the same socialist and communist dumbfucks who do shit like subsidizing minimum wage increases and they’ll still somehow increase that debt. Parliamentary and governmental elections on the 30th, lets see what comes of it.
Quiting euro area would be better.
I think this is basically impossible to predict and not clearly stating that seems very dishonest to me. No one can predict the future fro 20 years and if Southern European countries would really want to reduce their debt they could raise taxes (that would be dumb and hurt their people and economy but they could).
Spain also reduced their debt to GDP by 5% from 2014 to 2019, I don’t know why they shouldn’t be able to pick that up again in the next few years.
In 20 years every southern European country can reduce its debt to nothing, or go bankrupt in another huge crisis. That’s completely unpredictable. 20 years before 2010 the Soviet Union still existed and half of Europe was communist, 20 years are long enough to totally transform a country. 20 years is the time between WW1 and WW2. Everything can happen in 20 years from 1929 to 1949 Germany has gone from Democracy to Nazi dictatorship and total war and back to democracy.