18 June 2012

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Economic condition of 17 euro zone European countries From Greece to Germany

Economic condition of 17 euro zone European countries From Greece to Germany

17 Countries use the Euro as a currency.

Currently Europe is going through economic problem the most important reason for the fallout is the wrong policies of government of each nation.

Break of Euro zone will not help any European nation but time has come for the Europe to move towards one law and one banking system and one passport, one nationality citizenship  for the every European citizen.

17 Countries which got economic problems who use Euro as a currency.


Greece -
Debt in billions: € 355.62
Year 2011 -  Debt load was 165% of GDP
One in 5 is unemployed
Government is increasing taxes
Greece needs a total of 240 billion euros in bailout money from the European Union and IMF to save its near-bankrupt economy.

Italy –
Debt in billions: € 1897.18
Debt is 120% of GDP
Italian government spends about 16 percent of that budget on interest payments
Debt held by foreigners — nearly 800 billion euros
Italy is famous for Motor Business
(Fiat, Aprilia, Ducati, Piaggio, Iveco); tyre manufacturing (Pirelli)

Ireland –
Debt in billions: € 169.26
Debt is 108% of GDP
15 per cent are unemployed

Portugal –
Debt in billions: € 184.29
Debt is 107.8%  of GDP
Government is selling state own companies to fight with the economic problems.
Unemployment -    15.2 % (April 2012)
Average gross salary - 894 € / 1,300 $, monthly [2010 ]
Gross external debt     $497.8 billion (30 June 2010) 210% of GDP
Last May, Portugal received a $104 billion bailout from the European Union and International Monetary Fund, in exchange for deep spending cuts and structural reforms.
Now Portugal is planning to  sell its flagship TAP airline and airport management company ANA this year.

Belgium –
Belgium is a highly industrialized nation
Debt in billions: € 361.74
Debt is 98%  of GDP
Unemployment     7.4% (April 2012)
GDP (purchasing power parity): $412 billion (2011 EST.)

France –
The French economy is the second largest in the Eurozone
Debt in billions: € 1717.26
Debt is 86%  of GDP
GDP     $2808,265 trillion (2011)
Unemployment     10.2% (April 2012)
Public debt - 85.8% of GDP (April 26th,2012)

Germany –
Germany is the largest national economy in Europe
Debt in billions: € 2088.47
Debt is 81.2%  of GDP
Public debt - 81.2% of GDP (April 26th,2012)
Austria –
Debt in billions: € 217.40
Debt is 72.2%  of GDP
GDP - $301.31 billion (April 26th,2012)
GDP growth - 3.1% (April 26th,2012)
Unemployment     3.9% (April 2012)

Malta –
Malta produces only about 20% of its food needs, has limited freshwater supplies, and has no domestic energy sources
Debt in billions: € 4.60
Debt is 72.0%  of GDP
Unemployment 5.7% (April 2012)
Average gross salary     1,205 € / 1,626 $, monthly (2010)

Cyprus –
Cyprus is an island in the Mediterranean Sea
Cyprus is a tax heaven.
The offshore tax haven allows for the formation of trusts; which will pay no taxes on income gained outside of the territory.
The disclosure of information in Cyprus offshore bank accounts is prohibited and punishable by the law. Bank employees and other persons who are associated with Cyprus banks must take an oath of secrecy. This is a requirement of the Central bank of tax haven Cyprus.
Debt in billions: € 12.72
Debt is 71.6%  of GDP
Unemployment     10.1% (April 2012)

Spain –
Debt in billions: € 734.96
Debt is 68.5%  of GDP
One in four unable to find work

Netherlands –
The Netherlands is a founding member of the European Union, the OECD
and the World Trade Organization
The Dutch economy is the fifth-largest economy in the euro-zone
Debt in billions: € 392.51
Debt is 65.2%  of GDP
Unemployment     5.2% (April 2012)

Finland –
Finland has a highly industrialized, mixed economy with a per capita output equal to that of other western economies such as France, Germany, Sweden or the United Kingdom.
Debt in billions: € 93.03
Debt is 48.6%  of GDP
unemployment rate is about 7 per cent

Slovenia –  a former Yugoslav republic
Debt in billions: € 16.95
Debt is 47.6%  of GDP
Unemployment     12.0% (March 2012)

Slovakia –
Slovakia - separation from the Czech Republic in 1993.
Debt in billions: € 29.91
Debt is 43.3%  of GDP
GDP (purchasing power parity): $126.9 billion (2011 est.) country comparison to the world: 63
Unemployment rate: 12.6% (2011 est.)

Luxembourg –
The tax haven of Luxembourg has at least one hundred and fifty (150) banks offering services to both residents and nonresidents of the tax haven.
Luxembourg does not tax the interest gained by offshore bank accounts.
All information in offshore bank accounts in the tax haven of Luxembourg is regarded as confidential and cannot be given out without the written authorization of the offshore bank account holder.
When incorporating a holding company in the tax haven of Luxembourg there is no need to declare to the authority who the beneficial owners of the company are.
Debt in billions: € 7.79
Debt is 18.2%  of GDP
unemployment rate - around 5 per cent

Estonia –
Estonian software startups include Skype, Transferwise, Grabcad, and Erply.
Debt in billions: € 0.97
Debt is 18.2%  of GDP

We should not compare India with the European nations, here we got such a policies that a person who earns daily a half American dollar is considered as rich.

If you will compare their poverty line with ours you will realize 70% Indians are living below poverty line.

India is blessed by nature, Europe is not

India is no.1 in corruption and Europe is not.

If you will go to a foreign nation to do business and see that king and population is corrupt if you want to survive and earn make profits corruption is must
What you will do?

As a good business man he will do corruption and make profits

Same happens in India.

Reality views by sm –

Monday, June 18, 2012

Tags – Europe Euro Crisis


Kirtivasan Ganesan June 18, 2012  

very correct. a lesson for all of us.

Shaw June 19, 2012  

their problems affect the entire world

What is income protection insurance September 11, 2013  

Please post the latest economic status of Eurozone soon. :)