“It’s not that easy to shift a debt as large as Belgium’s,” says economist Kristin Vandenbergen at Bank Bruxelles Lambert (BBL), as she flicks through the pages of Belgium’s public debt statistics looking for the latest figures. Under the terms of the 1992 Maastricht Treaty, prospective entrants to European economic and monetary union (Emu) must meet, or make “satisfactory progress” towards meeting, a ratio of debt to GDP of 60%. They must also convince the European Commission, and ultimately the council of ministers and heads of state, that debt levels are sustainable.
Access intelligence that drives action
To unlock this research, enter your email to log in or enquire about access
