20/12/2014: Remembering that Debt Pile on Our Shoulders
trueeconomics.blogspot.com / by Dr. Constantin Gurdgiev / Saturday, December 20, 2014
Three charts to illustrate the extent of Ireland’s debt problem… that’s right, the one that has not gone away with all the recovery talk.
Let’s start in the happy days of 2007, when Irish Government’s sustainable debt per capita was running at EUR10,775 and we ranked 11th most indebted nation (on per capita basis) in the today’s EA18.
And fast-forward to 2014, when, based on the IMF projections, our Government debt per capita will amount to an eye-watering ‘sustainable’ EUR42,469 ranking us a run-away 1st in the debt load:
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