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The real reason the Greece deal matters, is the rest of the EU are looking at it as a proxy for what will happen to Spain and Italy next. These two make up a mu
by stupandaus 11y ago
The real reason the Greece deal matters, is the rest of the EU are looking at it as a proxy for what will happen to Spain and Italy next. These two make up a much larger proportion of the EU GDP, and are facing their own major debt crises.
- tosseraccount 11y agoSpain and Italy have cut their deficits in half. http://www.tradingeconomics.com/spain/government-budget http://www.tradingeconomics.com/spain/government-budget http://www.tradingeconomics.com/italy/government-budget http://www.tradingeconomics.com/italy/government-budget Robust growth predicted for Spain : http://www.oecd.org/eco/outlook/spain-economic-forecast-summary.htm http://www.oecd.org/eco/outlook/spain-economic-forecast-summ... Robust growth is projected over the next two years, driven by very supportive financial conditions http://www.oecd.org/eco/outlook/italy-economic-forecast-summary.htm http://www.oecd.org/eco/outlook/italy-economic-forecast-summ... After a long recession, the Italian economy has started its gradual recovery. Output is projected to grow by 0.6% in 2015 and by 1.5% in 2016/
- cplanas 11y agoIf reducing your budget matters, then Greece has a very prosperous economy. Reducing your budget does not matter if doing so sends you into a (bigger) depression that makes your debt grow. Spanish debt is growing fast, having almost doubled since 2010 (http://www.tradingeconomics.com/spain/government-debt-to-gdp http://www.tradingeconomics.com/spain/government-debt-to-gdp).
- tosseraccount 11y agoIf.