EU and Eurozone are massively over-indebted - but official figures obscure it

European Union Comment and Analysis Euro and Economy EU financial risk and liabilities

EU and Eurozone member states fail to fully report their financial liabilities. The key measure tracked by Eurostat - 'General government gross debt' – is circumvented to such an extent that, based on year-end 2021 figures, debts of around €6.4 trillion failed to be registered, and contingent liabilities of around €3.8 trillion. This discrepancy is...