This chart shows the economic growth in different nations of the Eurozone following the implementation of the Euro. Note the relations between debt and GDP. The snapshot in the top right of the image shows the complete Euro Area growth of debt. Debt growth far outpaced GDP growth in almost every country.
Key Takeaway – The growth of debt in the European Union was enormous after the implementation of the Euro. This is what led to the crisis.
Click on the image for a bigger view.
You can stream or download my entire podcast series on the history of the European Union at my SoundCloud page.
This is part of my wider History and Backgrounder for Understanding the EU. If you have enjoyed this podcast episode please check out the larger guide for deeper insights and explanations about the European Union.
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