Big government makes Europe a no-grow zone

Unwieldy state tentacles are strangling Europe's economic advancement, with government still responsible for over 45 per cent of GDP. If the region wants to grow, it must downsize.

On Monday Europe’s statistical agency, Eurostat, published its official annual data for the European Union’s public finances. Superficially, there is at least some good news in the figures: the eurozone deficit for 2012 was 3.7 per cent of GDP. That is certainly high. Too high, in fact, for the European treaties, which only allow 3 per cent of new debt per year. But at least it is better than the 4.2 per cent deficit recorded in 2011, let alone the 6.2 per cent deficit in 2010 or the 6.4 per cent in 2009.


SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device

Verify your mobile number to unlock a FREE trial

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles