Euro Countries Bring Down Deficit
April 18, 2008
Within the countries that have the Euro as their currency, it was seen that they were able to bring the country’s deficit to the European Union limit in 2007. With the growth of the European Union economically, many of the governments were able to claim the surplus of tax windfalls.
With the effect of the drop in the economy from the United States, the combined EU deficit stands at 0.6 percent what is a strong percentage to be at as the economy and the real estate industry continues to slide.
Even the countries that are commonly over the combined EU deficit - Italy and Portugal - reported a drop. Italy had a drop of three percent with a deficit at 1.9 percent, while Portugal’s deficit dropped by 3.9 percent.
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