In ancient Mesopotamia, the matter of the debt was still relatively easy. They were recorded on clay tablets. With each new ruler of the population got the debt issue. This was convenient because it escaped the debt spiral. Cost loans because interest rates. These lead to new debt. And new interest.
Now we no longer live, but in ancient Mesopotamia, which complicates the matter, at least in terms of the debt considerably. The governments of the euro countries - and not only - to sing a song about it.
The consultants from Boston Consulting have the matter now once looked closer. And it's very interesting what the authors wrote in their report "back to Mesopotamia". You look at the debt problem of the states in fact not isolated. Instead, they examine both the debt of governments and the private households and enterprises (excluding the financial sector) - and indeed for every country in the euro zone. They assume that each of these sectors can each lift a debt burden of 60 percent of GDP. That would be a total of 180 percent per country. Although the number is arbitrary, but it seems understandable, after all, she also corresponds to the value that once stood for the national debt in the Maastricht treaties.
This goal value of three times 60 percent of GDP, the authors compared the reality. And lo and behold: The differences are significant. Italy alone is the debt by more than 800 billion euros too high, in Spain there are 1000 billion euros, but also the supposed paragon Germany is more than 500 billion € over the target area. Throughout the euro zone, the debt overhang adds up to more than six billion euros.
Six billion € are therefore looking to the debt carousel again to some extent to balance. One possibility, Boston Consulting, whether the taxation of private property. The consultants expect to with a sharpened pencil. Overall, the private households in the euro zone had assets of 18 trillion euros. Would be "wegbesteuern" a third of that, then you would have solved the debt problem.
In Germany, there would be sufficient to nationalize 11 percent. In Greece it would have to be more than half in Ireland and would not even suffice the entire private fortune to the debt load back into balance.
We do not know if the consultants from Boston Consulting have a formal mandate of the policy to work on a solution to the debt problem. Maybe they're writing just what the politicians are not (yet) trust to say. In any case, they sketch a few of the theoretically possible ways: tax assets and substance to a considerable extent, to partial expropriation.
Too bad that many people in such an approach unlikely to be still. Capital flight, as we see it already in Greece and Italy would certainly increase dramatically if such plans are more concrete. An exodus of the rich and the service provider is expected to follow. If the policy really think in this direction, then the plans would probably only have a chance if they would be rigorously enforced: fast, broad and without a chance to loopholes. Then it would be the exact opposite of debt cancellation in ancient Mesopotamia - it would be the biggest theft in history.
Now we no longer live, but in ancient Mesopotamia, which complicates the matter, at least in terms of the debt considerably. The governments of the euro countries - and not only - to sing a song about it.
The consultants from Boston Consulting have the matter now once looked closer. And it's very interesting what the authors wrote in their report "back to Mesopotamia". You look at the debt problem of the states in fact not isolated. Instead, they examine both the debt of governments and the private households and enterprises (excluding the financial sector) - and indeed for every country in the euro zone. They assume that each of these sectors can each lift a debt burden of 60 percent of GDP. That would be a total of 180 percent per country. Although the number is arbitrary, but it seems understandable, after all, she also corresponds to the value that once stood for the national debt in the Maastricht treaties.
This goal value of three times 60 percent of GDP, the authors compared the reality. And lo and behold: The differences are significant. Italy alone is the debt by more than 800 billion euros too high, in Spain there are 1000 billion euros, but also the supposed paragon Germany is more than 500 billion € over the target area. Throughout the euro zone, the debt overhang adds up to more than six billion euros.
Six billion € are therefore looking to the debt carousel again to some extent to balance. One possibility, Boston Consulting, whether the taxation of private property. The consultants expect to with a sharpened pencil. Overall, the private households in the euro zone had assets of 18 trillion euros. Would be "wegbesteuern" a third of that, then you would have solved the debt problem.
In Germany, there would be sufficient to nationalize 11 percent. In Greece it would have to be more than half in Ireland and would not even suffice the entire private fortune to the debt load back into balance.
We do not know if the consultants from Boston Consulting have a formal mandate of the policy to work on a solution to the debt problem. Maybe they're writing just what the politicians are not (yet) trust to say. In any case, they sketch a few of the theoretically possible ways: tax assets and substance to a considerable extent, to partial expropriation.
Too bad that many people in such an approach unlikely to be still. Capital flight, as we see it already in Greece and Italy would certainly increase dramatically if such plans are more concrete. An exodus of the rich and the service provider is expected to follow. If the policy really think in this direction, then the plans would probably only have a chance if they would be rigorously enforced: fast, broad and without a chance to loopholes. Then it would be the exact opposite of debt cancellation in ancient Mesopotamia - it would be the biggest theft in history.
