The Eurozone is successful in raising the debt burden

Eurozone governments of the burden of debt to gross domestic product has grown considerably over the past seven years, and the extent of the 2010th an average of 85.3 per cent of GDP.

Compared to 2004. by the Irish government debt increased by 225%, 192%, Luxembourg, Portugal and Greece, 61% to 44%. Dangerous levels of debt are also large countries such as Italy, France and Germany, where public debt is 81.7 to 119 percent of GDP. Only three countries were the 2010th In a smaller debt than in 2004. In: Malta, Cyprus and Slovakia.

Estonia's public debt is likely due to lower growth in this period is applied to a balanced budget policy, which did not favor spending money loan. It was also during this rally in commercial bank lending and real estate boom in the state benefits because of increased consumption means more tax revenue and positive ülelaekumist budgets.

The Government's debt is ranked top five in Greece, Italy, Belgium, Ireland and Portugal. So far the media has been relatively little talk of the Belgian debt load, as compared to the others, it has grown only 2.6 percent. The country's economy is not used to it, and the sharp increase in debt in Ireland, Portugal or Greece.

The debt crisis is spreading to

From 2010. Since politicians have met regularly and made plans to rescue troubled countries. One and a half years ago, Greece had to be enough to just 110 billion euro loan package. So far, it has added yet another of the same lot, and only recently was the third decision to cancel the debts of 50%.

Decisions of its monetary policy-makers to the market shows that the debt crisis is not controlled by decisions made in Brussels or Frankfurt, but the stock markets and investors to design their own views, which is to be eurokraatidel new decisions and respond to the assistance package.

As long as Greece, Ireland, Portugal and Italy, or any other country is dependent on its financial market to refinance a loan borrowing of emerging interest, always finds reason for current interest rates increase, because the country has meanwhile increased risks.

The European Central Bank is 28 As of October bought 173.5 billion for the national debt and risky securities, interest rates on new loans to keep it still within the limits of tolerability. Much easier to make direct loans to countries of the European Central Bank and commercial banks rather than through, but it has previously been made a political decision, which is now difficult to change afterwards.

National States thrown at the mercy of global capitalism in the financial markets, which are ready to make a profit off the bad news. Today, it is possible to exchange shares or bonds to make a profit by selling short the drop off. That means a transaction where an investor borrows securities and sells them to the spot price less committed to the agreed time of return equivalent securities. If the price is then lower, then a transaction makes a profit from a fall in prices.

Will France and Germany are in need?

The alleviation of the debt crisis Eurozone is still led by France and Germany. I thought that those countries were able to the debt crisis, mitigate its size, and the European Union after, but the table, one is obvious that the puss-countries (Portugal, Ireland, Greece, Spain), the countries hit by higher interest on the wave just France and Germany, because they are States for 6 puss and 7 there. Their banks have invested in Greece, and the rescue of the country they pass through their own banking system. 18th October, Moody's message was that France would lose its bond with the highest AAA rating.

In view of ever-new obligations EFSF-current debt crisis is to assist countries, the European Union, all major countries find themselves attending some of the smaller loan with interest. For example, German or French debt is more than a quarter of Spain, but to speculate in financial markets are still in their two countries.

Estonia's accession to the euro was going to be useful, but from 2010. the spring of continuing debt crisis in the nation shows that we can charge to the foremost part.

The saddest thing is the decisions made by politicians that the crisis is prolonged.