The German Debt Problem Is Way Worse Than Anyone Thought

Angela Merkel

Photo: AP

Germany’s debt problem is way worse than previously thought, reports Bloomberg, citing German paper Handelsblatt.Besides 2 trillion euros ($2.7 trillion) of public debt, the paper reports that there are an extra 5 trillion euros ($6.7 trillion) of “hidden debt” because of shortfalls in the social security and pension funds, according to the findings of Bernd Raffelhueschen, an economics professor at Freiburg University.

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