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  1. #1
    Senior Member M1917 Enfield's Avatar
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    Aug 2013
    Eastern Ontario

    Germany's DEBT WARNING: Alarm bells as EU giant loses £70 A SECOND as 'debt clock' ticks

    Even Germany is running on debt, which is also growing more difficult to control daily!

    Germany's DEBT WARNING: Alarm bells as EU giant loses £70 A SECOND as 'debt clock' ticks

    GERMANY’S “debt clock” shows the country is loosing €78 (£70) each second resulting in the flagship European Union (EU) country breaking one of the bloc's mandates.

    The Maastricht criteria outlines that EU countries cannot exceed above 60 percent public debt, a rule Germany is failing to comply with.

    In November, when German coalition talks broke down as the Free Democratic Party (FDP) walked out of discussions with Angela Merkel and her Christian Democratic Union (CDU) party, the euro plunged.

    Germany problems shake entire EU so the latest debt revelation has a strong chance of causing reverberations throughout the bloc.

    The country is facing a colossal debt challenge as it would take 800 years to bring their debt down to zero. Currently the deficit stands at €1,973billion.

    In 2009, in the wake of the financial crisis, Germany had a debt increasing at a rate of €4,400 a second.

    Reiner Holznagel, president of German federation of taxpayer Schuldenuhr (BdST) said that political leaders need to do more in order to combat this problem.

    He added: “Citizens believe that everything is fine on the debt front. This is not the case.”

    The clock is a constant reminder of Germany’s deteriorating fiscal position and has been since 1995 when the clock was set up.

    Back then the clock was set at €12,830 a head but has now risen to €23,827.

    Germany needs to implement changes if the country is to run in a stronger financial way as Mr Holznagel added: “We need a budget that reduces debt in an orderly and active manner, and we have to make sure that all [of Germany’s] federal states do not just have a balanced budget but are actually cutting debt.”

    The Schuldenuhr was founded in 1949 with the aim of lobbying for greater transparency in public finances. The BdST has around 250,000 fee-paying members.

  2. #2
    Senior Member FALover's Avatar
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    Feb 2013
    moved close to the lake.Some call it Gilford.
    Print more money. It worked great in the 1920's.

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  4. #3
    Senior Member Zinilin's Avatar
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    Feb 2014
    Raise the minimum wage to $6,500.00 hour and then tax the rich!

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  6. #4
    The Gunsmithing Moderator blacksmithden's Avatar
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    Apr 2012
    I live among the creatures of the night (Edmonton)
    Quote Originally Posted by FALover View Post
    Print more money. It worked great in the 1920's.
    You and I must be related. The first thing I thought of was that this global economy bs WILL have to come to an end sooner or later. The great depression was triggered by.....but that could never happen again...oh couldn't possibly....right ?....right ? Eventually this global economy socialist bubble WILL pop. The question is not if, but when.
    Last edited by blacksmithden; 01-05-2018 at 05:42 PM.
    GOC moderator
    Dealer/co-founder/co-owner of Tundra Supply Ltd.
    The High River Gun Grab - NEVER FORGET !!!!
    Feb 26 2014 - Swiss Arms prohibition and ordered confiscation by the RCMP - NEVER FORGET !!!!!

  7. #5
    Senior Member
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    Sep 2016
    Warszawa, Polska
    Quote Originally Posted by Zinilin View Post
    Raise the minimum wage to $6,500.00 hour and then tax the rich!
    "Bring back hanging, and go into rope"
    Successfully escaped this crazy quack s***hole country ALIVE - 12/26/2017!!!

    Give your family tree a good shake and see if you have any dual citizenship that you can use to GTFO of this crazy quack s***hole country!

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    Waterloomike (01-05-2018)

  9. #6
    Have gun, will travel. Forbes/Hutton's Avatar
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    Apr 2012
    And Britain laughs.
    Remember: the opposite of "Far Right" is Far Wrong.

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