2 ms·
> Or at all, for certain countries. Germany and France routinely break pretty much any parameter, in various directions, and absolutely nothing happens. German
by wolfgke 11y ago
> Or at all, for certain countries. Germany and France routinely break pretty much any parameter, in various directions, and absolutely nothing happens.
Germany has been very strict on their own budget in the last four years and tries hard to satisfy the Masstricht criteria. For the following data, cf. http://www.tagesschau.de/wirtschaft/wirtschaftsdaten104.html http://www.tagesschau.de/wirtschaft/wirtschaftsdaten104.html
budget deficit/surplus of EU countries (% of GDP) (Haushaltsdefizite/-überschuss der EU-Länder): -3 is allowed, Germany has
2012: +0,1 %
2013: +0,1 %
2914: +0,7 %
2015 (estimate): +0,6 %
2016 (estimate): +0,5 %
which is (IMHO) exemplary.
From the Maastricht criteria only "total debt (% of GDP)" (Gesamtschulden (in % des BIP)) is problematic, since there only 60% is allowed. But also here Germany is working very hard to satisfy this criterion:
2012: 79,3 %
2013: 77,1 %
2014: 74,7 %
2015 (estimate): 71,5 %
2016 (estimate): 68,2 %
- gutnor 11y agoWell it does illustrate how transient "exemplary" is. Ireland and Spain were exemplary in the years leading to the crisis, beating Germany in the debt and surplus metrics.[0][1] Media like to show "feel good metric" to put a patriotic positive spin (us good, them bad) on the result of regular political arm-wrestling between temporarily weaker countries. You won't see those metric in France however the media will use different things to achieve the same effect. The idea is to build a moral high horse so that your people can forget that over there, few people have benefited but a lot will pay. [0] http://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1&language=en&pcode=teina225&plugin=1 http://ec.europa.eu/eurostat/tgm/table.do?tab=table&init=1&l... [1] http://ec.europa.eu/eurostat/tgm/table.do?tab=table&plugin=1&language=en&pcode=teina200 http://ec.europa.eu/eurostat/tgm/table.do?tab=table&plugin=1...
- toyg 11y agoYes, but the Euro wasn't created in the last 4 years: http://www.bbc.co.uk/news/world-europe-16761087 http://www.bbc.co.uk/news/world-europe-16761087 "In 2003, France and Germany had both overspent, and their budget deficits had exceeded the 3% of GDP limit to which they were legally bound." Both countries basically spent their way out of their economic downturns, then told everyone else not to do that.