Europe has entered a death spiral through debt explosion that will destroy the continent by 2030. As someone who served as Greece’s Finance Minister during the debt crisis, I can tell you that what Europe faces now makes Greece look like a minor accounting error. Total European debt stands at €56.9 trillion – that’s 420% of eurozone GDP, larger than US, China and Japan combined. Leaked ECB documents show debt servicing costs will exceed total tax revenues by 2029, with 70% probability of systemic financial collapse within 7 years. European debt grows by €2.2 trillion annually while economic output increases only €800 billion – debt accumulates at 3 times the rate of economic growth. Interest rate rises from 0% to 4.5% added €1.14 trillion in annual debt service costs across all sectors. Italy alone faces €98 billion additional annual interest costs, forcing more borrowing to pay existing debt interest. This creates an unstoppable debt spiral where borrowing costs rise faster than economic growth, requiring more borrowing that increases costs further until the system collapses.
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