Translation of "Öffentliche schulden" in English

How much longer are we going to go on transforming private debt into public debt?

There is also a need to avoid public and private debt.

As a result, large – and potentially unsustainable – stocks of private and public debt remain.

High levels of public debt cannot be sustained indefinitely.

Parts of what had been private debt were converted into public debt.

The heavy burden of public debt needs to be broken down.

First there is the issue of how fast to reduce government deficits and the accumulation of public debt.

Bank losses are being turned into public debt on to working people's backs.

We are in a position where we have 11% unemployment, 20% youth unemployment, massive public debt and millions in poverty, and unless the other countries around the world are prepared to share the burden, then we should say we are not going to allow our countries to become uncompetitive and increase poverty within the European Union.

Firstly, too great an emphasis is placed on the criterion of public debt within national economies when other indicators are equally important.

We can move forward by restructuring public debt with a partial writing off of debts in combination with enforcing the requirements of a tightened-up Stability and Growth Pact, including automatic penalties.

Above all, I welcome the fact that, when applying the regulation on government debt, the Commission will have to take into account 'all other relevant factors', in particular private debt, and other important factors allowing for an overall assessment to be made.

Countries then transformed that private debt into public debt, and this is the problem Greece is having to contend with now: an unbearable level of public debt.

Just because the Member States want to see economic growth and less public debt, that does not entitle us to let our priorities go to waste.

Everyone in this House knows that, of the 15 countries in the euro area, 6 have high public debts and financial deficits.

To default on its external commitments, whether these are public or private debts?

This is indeed proof that, by having a blinkered view of the Stability and Growth Pact and a view of euro area governance that is focused solely on public debt, one fails to see the bigger picture, which would make it possible to anticipate the next crisis and to prevent it.

Although they have been hit hard by the crisis, the Baltic countries have enjoyed the advantage of having a low level of public debt, which provided them with greater flexibility in relation to external loans.

We are all aware that in seeking to control the deficit and reduce public debt, the Member States are cutting back on investment.

The possible next Prime Minister of Italy, Silvio Berlusconi, has announced that he wishes to lower taxation despite a budget deficit and despite a ratio of public debt and gross national product that is more than three times the size of Ireland' s.

European Commission estimates suggest only a marginal improvement in the cyclically adjusted primary balance-to-GDP ratio ( i.e. the budget balance excluding government debt interest payments and corrected for cyclical influences ) for the euro area as a whole in 1999 .

Instead, they focused exclusively on US foreign debt, ignoring household debt (mortgage and consumer debt), public debt, business debt, and financial debt.

From the standpoint of growth and employment, public and private debt masked an absence of productivity growth, declining competitiveness in the tradable sector, and a range of underlying structural shortcomings – including labor-market rigidities, deficiencies in education and skills training, and underinvestment in infrastructure.

Too many countries face a legacy of high public and private debt, fiscal and current-account imbalances, and growth models that are unable to generate enough jobs.

In the eurozone, countries like Greece faced sovereign-debt crises as bank bailouts turned private debt into public debt.

Exceptionally high public and private debts constrain a country’s options and are indisputably associated with slower growth, which in turn makes it difficult to escape a debt trap.

The ultimate solution was to finance spending not with the inflation tax, but with debt: first public debt, and then, as governments cut their deficits, private-sector debt.

While the eurozone’s tail risks are lower, its fundamental problems remain unresolved: low potential growth; high unemployment; still-high and rising levels of public debt; loss of competitiveness and slow reduction of unit labor costs (which a strong euro does not help); and extremely tight credit rationing, owing to banks’ ongoing deleveraging.

Short- and medium-term growth can be sustained for a while by substituting public and private debt for investment – that is, borrowing against future income and consumption.