Back in France!
While the world is watching the drama of the Greek Debt Crisis, indeed many of the other European countries are mired in red ink too! Greek debt stands at a dizzying 177% of GDP. In Italy the sum has reached 132%.
Debt has dangerously increased in France too where the amount of debt to Gross Domestic Product (GDP) has reached 97.5 %!!! Just twenty years ago in 1995, debt comprised 56% of the French GDP.
In 2014, French debt stood at an unhealthy 95% of GDP, while Great Britain hit 89%, and Germany 75% The European Union average last year stood at 87%!
May one politely ask, WHO is going to pay for this profligate spending???
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