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European Government Finances: Fixing The Roof After The Storm Oct 10

  • ID: 1817291
  • October 2010
  • Region: Europe
  • Standard & Poors
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  • Austria (Republic of)
  • Cyprus (Republic of)
  • Estonia (Republic of)
  • Hungary
  • Latvia (Republic of)
  • Poland (Republic of)
  • MORE

European governments have resolved to consolidate their public finances over the next couple of years. To accomplish this, they'll likely have to make some tough choices, such as to raise taxes and cut spending. Standard & Poor's Ratings Services believes these steps will be crucial for countries to rebuild their public finances following the deterioration in the global financial and economic downturn. Given our projections for subdued economic growth in the next 12 to 18 months, we believe that sovereigns' successful stabilization of debt-to-GDP ratios to contain public sector borrowing needs will likely not result from the cyclical recovery in revenues between this year and 2012 that many European governments appear to be expecting (see table 1). Economic growth alone...

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Research Type: Commentary
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- Austria (Republic of)
- Denmark (Kingdom of)
- Finland (Republic of)
- Sweden (Kingdom of)
- France (Republic of)
- United Kingdom
- Spain (Kingdom of)
- Germany (Federal Republic of)
- Belgium (Kingdom of)
- Italy (Republic of)
- Ireland (Republic of)
- Netherlands (State of The)
- Portugal (Republic of)
- Greece (Hellenic Republic)
- Luxembourg (Grand Duchy of)
- Cyprus (Republic of)
- Hungary
- Czech Republic
- Slovak Republic
- Malta (Republic of)
- Poland (Republic of)
- Romania
- Slovenia (Republic of)
- Latvia (Republic of)
- Lithuania (Republic of)
- Estonia (Republic of)
- Bulgaria (Republic of)

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