Officially, German debt in 2011 stands at 2,000 billion euros. But that’s only half the truth, because the major portion of expenditure for pensioners, the sick and dependent persons is not included in the calculation. According to new figures, the real debt is 5,000 billion euros. If these figures stand, Germany is in debt to the tune of 185 percent of its gross domestic product and not 83 percent, as officially declared. By comparison, Greek debt should be 186 percent of GDP in 2012, and Italy’s debt is currently at 120 percent.
Juncker says German debt cause for concern | Reuters.
Germany’s enormous hidden debt
But It seems that also other countries hide the real entity of their sovereign debts.
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“Botox and beancounting Do official statistics cosmetically enhance America’s economic appearance?”. Economist. 28 April 2011. Retrieved 16 May 2011.