Eurozone Debt Rising Despite Austerity Measures

The combined debt in the eurozone continues to grow, even as many of the 17 nations in Europe’s currency bloc have adopted austerity measures to cut spending and raise taxes.

European officials say the eurozone debt level hit an all-time high in the first three months of the year, more than 92 percent of the economic output of the eurozone nations. Only two of the eurozone countries reported falling debt, economic powerhouse Germany and tiny Estonia.

Cutting spending and increasing …

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