There Is One Problem With Europe’s So-Called Austerity: Debt To GDP Ratios Have NEVER Been Higher!

–  There Is One Problem With Europe’s So-Called Austerity (ZeroHedge, June 16, 2015):

The one most recurring laments coming out of peripheral European countries which boast near record youth unemployment, in most cases around the 50% area, is that the only reason why there is no growth is due to “evil austerity”, imposed upon them by Germany and other frugal Northern Europe overseerers, who do not permit the rampant issuance of debt to fund domestic spending and fiscual stimulus programs. There is one problem with that: the peripheral European countries are not only issuing debt at a pace that is greater than the “pre-austerity” period, but these nations’ debt to GDP ratios have never been higher!

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