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Italy. Yes. Spain. No. Spain has a smaller debt 65% of GDP compared to most western countries, including the USA (92%) and Germany (83%). They do have huge eco
by stygianguest 15y ago
Italy. Yes. Spain. No.
Spain has a smaller debt 65% of GDP compared to most western countries, including the USA (92%) and Germany (83%). They do have huge economic problems. Right now the biggest danger is that outside trouble brings down their banks.
- danmaz74 15y agoOn the other hand, Italy is running a primary surplus, its families are among the less indebted in the Western world, and its banks have liquidity. To put it simply: if needed, it is still possible for the government to raise a lot of money, for example through a property tax - something that has already been done in the past and is being discussed now.