Point me toward information about deficits in the eurozone

Can anyone point me to information about comparative deficit and debt levels in eurozone countries?

I’m particularly interested in knowing what Ireland’s deficit/debt to GDP/GNP ratios are and what they would be without the money that has been dumped into the failing banks (i.e. what our structural deficit/debt to GDP ratios are) and how they compare with other countries in europe.

Is there a site people can point me to? Google isn’t really working for me.

Finfacts gives some pointers on the structural deficit: finfacts.ie/irishfinancenews … 6313.shtml

For the banks, go through the national accounts and see what the transfers have been?
finance.gov.ie/viewdoc.asp?D … ng=EN&m=19

This’ll also give you the deficit, but in ‘government’ terms or EU terms - GGD for example doesn’t count capital spending as being part of the deficit. Which is grand in terms of sustainability, but not really in terms of borrowing. It also doesn’t include social insurance contributions.

Aidan Kane on IE.ie put together an excellent spreadsheet that poster Hugh Sheehy updated:
spreadsheets.google.com/ccc?key … l=en#gid=0

It contains lots of facts and figures on the deficit and other things.

So, you can work out how much was put into the banks that comes under the deficit (about 4 bn in 2009 I think and er, not much more - it has mostly been in the form of promises - future debt - or NPRF funding). The rest of the deficit is expenditure over income…

Part of the confusion of what has gone on is, I believe, the way that information is presented. It is always political and it is always presented in the best possible light to those presenting it.

HTH, let me know if there is something more specific you want.

Moved to Central Bank as quite interesting…

PS eurostat is probably your best bet on deficits in the rest of the eurozone, but since it measures GGD it may not present a fully accurate picture. Local government finances are a mess in some countries, Spain seems to stand out in the financial meeja, and a consolidated figure is hard to come by.

Courtesy of goldmanberg:
bis.org/publ/work300.pdf?noframes=1

The first chart seems to have the structural balance in it…

Thanks yoganmahew.

Here’s a (somewhat) related question: we often hear it said that the ECB would not countenance any eurozone bank failures and that this was a reason for the September 2008 bank guarantee. I can find no evidence beyond hearsay that this is the case and it would appear that at least one eurozone bank, the Dutch bank DSB, was allowed to fail in October 2009.

Is it true and is it enshrined in policy somewhere?

(P.S. Not asking you to do my legwork. I’m trying to find the answer to this myself. But I just thought you might know).

I don’t know the answer, the only reference I know of to it is a phone message from M. Trichet left at the DoF answerphone (Mr. Lenihan was at a FF fundraiser at the horses with his mobile turned off). It has been reported as “you must save your banks at all costs”.
youtube.com/watch?v=WDN7NiEdNJ0
(See about 4:33 onwards)

It seems little enough to bankrupt the state on…

As Mr. Lenihan got the phone message on Sunday (the day of the guarantee), I don’t see it as at all relevant to the guarantee. Mr. Gormley has said that the guarantee was decided on by cabinet at least before Sunday (he appears a little unsure of the date, or even the day of the week, what’s new for him. He still thinks we’re before the end of January…).

Any evidence anywhere as to whether Liar Lenny actually returned a call to M Trichet? If he did then he (and us) could have gained an understanding as to what was meant by “at all costs”.