European debt reaches 13.3 trillion euros driven by rising inflation

The European Union’s economic crisis continues to plunge deeper, with the bloc countries’ debt reaching more than 13.3 trillion euros. As economists describe the scene as if it is becoming like a maze that is difficult to get out of.

The report of the Spanish newspaper “El Debate” is a new milestone to be added, which said that the debt of EU countries totalled $13.3 trillion. This was the result of the ECB’s issuance of 600 billion euros in just one year. This has caused the inflation gap to widen and prices to rise madly.

Europe is facing a trade deficit of $0.5 trillion, the news outlet also said. This coincided with a 2% slump in GDP.

The lack of coordination of the energy dilemma

 has led mainly to the stagnation of Europe’s gross domestic product (GDP), as noted in the report.

The EU’s debt has reached the EUR 13.3 trillion threshold since December 31. remarking the fact that, European debt has risen by 3.8%, with only 4 countries able to reduce their debt: Sweden is able to reduce its own debt by 9.7%, Denmark is reducing it by 8.4%, Ireland by 4.8%, while Cyprus has already reduced its debt by 3.9%.

Among the paradoxes shown by the data, the Netherlands’ debt rose by 6.9%, the highest of all its counterparts, although the country is doing well economically, followed by Spain 5.3%, Austria 4.9%, France 4.5%, Italy 2.9%, and Germany 2.7%.

Contrary to what the percentages show, France faces the greatest risks here, with debts about to reach 3 trillion euros, double Spain’s.