Since the new year Lithuania adopted Euro currency and became a full member of the European Monetary Union. And one of the few EMU countries that fully meet the Maastricht criteria in terms of debt level and budget deficit (national public debt not exceeding 60% of GDP and national budget deficit at or below 3% of GDP. See the history of these indicators among EMU countries on the animated bubble chart). Paradoxically, since the beginning of European debt crisis, indebtness of most countries has increased. Only Germany was able to reduce its level of debt since 2010.
Whether the last efforts of ECB and European political authorities will be enough to resolve this situation in the future? Look at the IMF projections to 2019 on the line graph by selecting the country from the list at the page top.
All data comes from the last IMF World Economic Outlook database
A sovereign default is the failure or refusal of the government of a sovereign state to pay back its debt in full. Cessation of due payments (also euphemistically termed receivables) may either be accompanied by formal declaration (repudiation) of a government not to pay (or only partially pay) its debts, or it may be unannounced. Defaults have typically involved low-income and emerging-market economies, although recent cases include advanced-economy sovereigns. Until recently, there have been few efforts to systematically measure and aggregate the nominal value of the different...
According to wide-spread market and analyst expectations, today the European Central Bank in order to respond to the growing deflationary trends will launch a new Large-Scale Asset Purchase program (LSAP, or, so called, "Quantitatve Easing"). However, the massive purchases of assets (usually government bonds) by central banks not only increase inflation, but also create pressure on government bond yields, which in Europe are on lowest levels for last ten years (see the graph) and in core EMU countries are close to zero. Sources: Long-term interest rate statistics for EU Member...
The US Federal Debt (also referred to as The Public Debt or The Government Debt) is the amount owed by the federal government of the United States at any time in the past and not yet repaid. America has the largest debt burden in the world, which is estimated to be $18,472 billion by the end of 2015. Generally, there are two components of gross federal debt: debt held by the public and Ddbt held by government accounts. In 2007 the share of US federal debt held by the public was 56% only, whereas in 2014 this component constituted approximately 72% of the total debt burden....
Worldwide lockdown measures in response to coronavirus have disrupted economic activity resulting in millions of job losses and bankruptcies. To soften the effects of the economic downturn, governments have announced and are implementing a variety of fiscal measures. Fiscal stimulus, whether in the form of additional government expenditures or deferral of certain payments (like taxes and social security contributions), immediately increases countries' budget deficits and are financed through a buildup of public debt. Other measures like government guarantees, liquidity assistance,...
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