Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Display:
The American debt ceiling isn't a debt brake though. It incorporates absolutely no relationship between debt and GDP. It's just an arbitrary nonsensical number. Whereas a eurozone debt brake calibrates the proper amount of debt to GDP. Or else budget deficit.

There's a big difference in that the American one cannot but be broken repeatedly whereas in principle, one might never break through the eurozone barrier.

by Upstate NY on Wed Sep 7th, 2011 at 04:58:39 PM EST
[ Parent ]

Others have rated this comment as follows:

Migeru 4

Display:

Top Diaries

Italian government collapse

by IdiotSavant - Jan 15
14 comments

Dutch Government Collapse

by Oui - Jan 16
4 comments

A Rush To Judgement Day

by Oui - Jan 17
1 comment

A Long War?

by Frank Schnittger - Jan 8
77 comments

Israel and A Presidential Election

by Oui - Jan 14
25 comments

Occasional Series