Posted 3/29/2024, 7:02:53 AM
Europe Faces Varying Economic Fortunes
- Several major European economies like France, Italy, and Spain have unsustainable debt levels over 100% of GDP
- However, some countries like Poland and Sweden have had economic success stories with GDP growth and pension reform
- Denmark streamlined municipalities to improve efficiency of public services
- Germany's current coalition government may be exacerbating reliance on government handouts over work
- Economist Herbert Stein said unsustainable things will eventually stop; the question is whether broader Europe will reform before crisis hits
