Debt Dilemma: Germany's Public Debt Climbs 3.3% to €2.445 Trillion in 4Q 2023
380 sats \ 5 comments \ @TomK 30 Mar econ
The german Federal Statistical Office (Destatis) has unveiled the latest figures indicating a noteworthy 3.3% surge in Germany's public debt during the fourth quarter of 2023, soaring to an alarming €2.445 trillion owed to the non-public sector. This substantial increase of €77.4 billion compared to the end of 2022 underscores the formidable fiscal hurdles confronting the nation. While there has been a marginal decline of 0.3% (€8.5 billion) from the third quarter of 2023, german politics seems to counter the problem with higher taxes (VAT for gastro or CO2 taxation) and the ongoing 'creative balancing' and outsourcing of public debt in special funds they call 'Sondervermögen' which is open fraud like the Constitutional Court decided. When even Germany resorts to such means, we know that we have entered the phase in which new debt must be pushed into the markets, whatever the cost.
Perhaps the country could apply for an IMF loan in the not too distant future and use the money to buy US government bonds? Then everyone would benefit.
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21 sats \ 1 reply \ @riberet19 30 Mar
A 3.3% increase in just 3 months, sounds like a real horror movie.
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0 sats \ 0 replies \ @TomK OP 30 Mar
Wait for the real recession and demografic horror they are facing soon
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21 sats \ 2 replies \ @Coinsreporter 30 Mar
Perhaps the country could apply for an IMF loan in the not too distant future and use the money to buy US government bonds? Then everyone would benefit.
Why don't they print more money like the US? I just overthink it too much. Germany is surely in a drastic situation and deindustrialization isn't helping the cause.
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0 sats \ 0 replies \ @TomK OP 30 Mar
Ukraine continues attacks on Russian infrastructure against American orders
As we have now learned, the Americans have repeatedly tried to persuade Ukrainian President Zelensky to stop the ongoing attacks on Russian infrastructure. Clearly, the party of those who fear an escalation of the Russian-Ukrainian conflict and also see inflationary leaps due to rising oil prices as a danger is growing. Zelensky has rejected this according to his own statements - this is an attempt by neocons and the EU technocrats such as French President Macron to steer the Americans back in this war. The European Union, which is facing severe economic problems, needs a cover story for its impending bankruptcy. This must stop!
https://www.irishsun.com/news/274215609/us-warned-kiev-to-stop-attacking-russian-refineries-zelensky
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0 sats \ 0 replies \ @TomK OP 30 Mar
please don't forget that the German Bundesbank is no longer independent, but the ECB is running the show. the problem they have is that since the GFC they have been taking massive government debt of eurozone countries onto their balance sheet, i.e. 'printing money'. if this accelerates more than in the United States, then that will be the end of the euro.
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