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Chart of the Day: Deficits in the European Periphery

This chart from Spiegel gives you a sense of the magnitude of the deficit reductions that must be accomplished in order to get the European periphery under the Maastricht 3% hurdle.

 

European periphery deficits

Source: Spiegel

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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty years of business experience. He is also a regular economic and financial commentator on BBC World News, CNBC Television, Business News Network, CBC, Fox Television and RT Television. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College. Edward also writes a premium financial newsletter. Sign up here for a free trial.