Clouds of growing national debt are piling up over Europe

A new debt crisis looms in Europe as European countries continue to spend huge sums of money to support their economies in the midst of the prevailing energy crisis. Debts were already on the rise during the pandemic, as countries tried to help businesses and residents affected by the restrictions, whose incomes were reduced or temporarily disappeared altogether, but the wave of the energy crisis and the rise in rates of interest are making the situation worse.

There is no one-size-fits-all solution to the existing situation, it is not that easy to reduce debts, especially over such a period of time, so the forecasts of the experts are not very optimistic, admitting that it can worsen the standard of living of the residents of the region.

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