The seriousness of debt is not a linear phenomenon, contrary to what the first president of the Court of Auditors, Pierre Moscovici, pretends to believe. As government debt approaches the €3000 billion mark (€2950 billion to date), its sustainability has become a mainstream topic that is discussed at breakfast.
A country is not judged - by its creditors means - by the level of its debt. It would rather be an exponential, a runaway that is difficult to control. This article is for subscribers only. You still have 79% to discover.