What Romania Must Learn From The Sovereign Debt Crisis: Keep Public Debt Under Control

10.31.2011 By Iulian Anghel

From 2005 until 2010 Greece’s public debt as a percentage of GDP grew from 100% to 150%. In less than a year, the debt went up by a further ten percent, and is currently at 160% of GDP, which indicates that despite the tough austerity measures, there is a limit beyond which things can no longer be controlled, and the “end” becomes unavoidable.

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Keywords:
PUBLIC DEBT
, GDP
, DEFICIT