In graphics: Eurozone in crisis
One of the main causes of the currency crisis in the eurozone is that virtually all countries involved have breached their own self-imposed rules.
Under the convergence criteria adopted as part of economic and monetary union, government debt must not exceed 60% of GDP at the end of the fiscal year. Likewise, the annual government deficit must not exceed 3% of GDP. However, as the maps show, only two of the 16 eurozone countries – Luxembourg and Finland – have managed to stick to both rules.
Overall, Greece is the worst offender, with debt at 115.1% of GDP and a deficit of 13.6% of GDP. But among the bigger economies, Read more…
