Harsh Austerity Sends Italian, Spanish Debt To Record Highs

Harsh Austerity Sends Italian, Spanish Debt To Record Highs

Submitted by Tyler Durden on 09/12/2014 12:43 -0400
http://www.zerohedge.com/news/2014-09-12/harsh-austerity-sends-italian-spanish-debt-record-highs

Damn you debt-reducing austerity-that-is-blamed-for-everything-that-is-wrong-with-Europe’s-triple-dip-recessionary-economy-when-it-is-the-corrupt-socialist-incompetent-politicians’-fault. Damn you to hell! Oh wait a minute:

Italy’s government debt rose to a record €2.169 trillion in July from €2.168 trillion in June, the Bank of Italy says in its public-finances supplement.

Spain total govt debt amounted to a record € 1.01 trillion in 2Q, up from € 995.9b in 1Q, Bank of Spain says; 2Q Total Govt Debt Rises to 98.9% of GDP From 97.4% in 1Q

With austerity like this, who needs to spend like a drunken sailor?

Source: Bloomberg

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