Fire and ice on Europe's debt march

Europe’s average debt to GDP ratio is shrinking but the closer details are devilish. And hardly anyone’s playing by agreed EU Stability and Growth Pact rules anymore.

For those eternal optimists always looking for green shoots in the eurozone crisis, Europe’s statistics authority Eurostat had a pleasant surprise this week. For 2012, the government deficit for the combined eurozone fell to 3.7 per cent of GDP from 4.2 per cent the previous year.

So clearly, austerity policies are working and it must surely only be a matter of time until the European Union gets its house in order again to leave the nasty eurozone crisis behind, right?



{{ twilioFailed ? 'SMS Code Failed to Send…' : 'An SMS verification code has been sent ...' }}

Hi {{ user.FirstName }}

Looks like you have 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 complete your SMS verification

We cannot send you a code via SMS to {{user.DayPhone}}

If you didn't receive SMS code please

SMS code cannot be sent due to: {{ twilioStatus }}

Please select one of the options below:

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 proceed...

Please check your mobile number below and press the Send Verification Code button. This will be used to complete your verification in the next step.

Please sign up for full access


Updating information

Please wait ...


{{ productPrice }} / day
( GST included )
Price $0
GST $0
Discount -{{productDiscount}}
TOTAL {{productPrice}}
  • Mastercard
  • Visa

Please click on the ACTIVATE button to finalise your membership


The email address you entered is registered with InvestSMART.

Please login or select "Don't know password"

Please untick this box when using a public or shared device

Register as a new member

(using a different email)

Related Articles