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Author: MadCapitalist Big funky green star, 20000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 459364  
Subject: Austerity in Europe Date: 5/26/2012 11:14 PM
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Here is total government expenditure as a percentage of GDP for European countries (unfortunately, only through 2010 is available for the percentage of GDP data). As you can see, only Bulgaria and Hungary cut their government spending relative to GDP since 2007, before the economic crisis.

Austerity in Greece is a 5.5% increase. Austerity in Spain is a 16.3% increase. Austerity in France is a 7.6% increase. Austerity in the UK is a 14.6% increase. Austerity in Italy is a 5.9% increase.

Ireland increased their spending 82.5% from 2007 to 2010. I haven't checked, but I'm sure that their economy must be overheating from all the Keynesian stimulus by now. That must be why they cut spending in 2011.

Below that, I present data in national currency through 2011, which I believe is adjusted for inflation, but I couldn't verify it. Every single country is showing higher government spending in 2011 compared to 2007.

     Country       2001  2002  2003  2004  2005  2006  2007  2008  2009  2010  Change 2007-2010
EU (27 countries) : 46.6 47.2 46.8 46.8 46.3 45.6 47.1 51.0 50.6 11.0%
Belgium 49.1 49.8 51.0 49.3 52.1 48.6 48.3 49.9 53.8 52.9 9.5%
Bulgaria 40.6 39.6 39.1 38.6 37.3 34.4 39.8 38.3 40.4 38.0 -4.5%
Czech Republic 43.9 45.6 50.0 43.3 43.0 42.0 41.0 41.1 44.9 44.1 7.6%
Denmark 54.2 54.6 55.1 54.6 52.8 51.6 50.8 51.5 58.0 57.8 13.8%
Germany 47.6 47.9 48.5 47.1 46.9 45.3 43.5 44.0 48.1 47.9 10.1%
Estonia 34.8 35.8 34.8 34.0 33.6 33.6 34.0 39.5 45.2 40.6 19.4%
Ireland 32.9 33.2 33.0 33.3 33.6 34.2 36.5 42.7 48.6 66.6 82.5%
Greece 45.3 45.1 44.7 45.5 44.6 45.2 47.6 50.6 53.8 50.2 5.5%
Spain 38.7 38.9 38.4 38.9 38.4 38.4 39.2 41.5 46.3 45.6 16.3%
France 51.7 52.9 53.4 53.3 53.6 53.0 52.6 53.3 56.7 56.6 7.6%
Italy 47.7 47.1 48.1 47.5 47.9 48.5 47.6 48.6 51.9 50.4 5.9%
Cyprus 38.0 40.0 44.6 42.4 43.1 42.6 41.3 42.1 46.2 46.4 12.3%
Latvia 35.0 36.0 34.9 35.9 35.8 38.3 35.9 39.1 44.2 44.4 23.7%
Lithuania 36.6 34.6 33.0 33.2 33.2 33.5 34.6 37.2 43.8 40.9 18.2%
Luxembourg 38.1 41.5 41.8 42.6 41.5 38.6 36.3 37.1 43.0 42.5 17.1%
Hungary 47.8 51.5 49.7 49.1 50.1 52.1 50.6 49.2 51.4 49.5 -2.2%
Malta 42.4 42.6 46.7 45.2 44.6 44.4 42.8 44.1 43.5 43.2 0.9%
Netherlands 45.4 46.2 47.1 46.1 44.8 45.5 45.3 46.2 51.5 51.2 13.0%
Austria 51.3 50.7 51.3 53.8 50.0 49.1 48.6 49.3 52.9 52.5 8.0%
Poland : 44.3 44.7 42.6 43.4 43.9 42.2 43.2 44.5 45.4 7.6%
Portugal 42.4 42.2 43.6 44.5 45.6 44.4 44.4 44.8 49.9 51.4 15.8%
Romania 36.2 35.0 33.5 33.6 33.6 35.5 38.2 39.3 41.1 40.2 5.2%
Slovenia 47.3 46.2 46.2 45.7 45.3 44.6 42.5 44.2 49.3 50.1 17.9%
Slovakia 44.5 45.1 40.1 37.7 38.0 36.5 34.2 34.9 41.5 40.1 17.3%
Finland 48.0 49.0 50.3 50.2 50.4 49.2 47.4 49.3 56.1 55.5 17.1%
Sweden 54.5 55.6 55.7 54.2 53.9 52.7 51.0 51.7 54.7 52.3 2.5%
United Kingdom 40.2 41.1 42.1 43.0 44.1 44.2 43.9 47.9 51.4 50.3 14.6%
Iceland 42.6 44.3 45.6 44.0 42.2 41.6 42.3 57.6 51.0 51.6 22.0%
Norway 44.1 47.1 48.2 45.1 41.8 40.0 40.3 39.8 46.7 45.5 12.9%
Switzerland : : : : 35.3 33.5 32.3 32.4 34.1 34.2 5.9%

Here is the data through 2011 in "Millions of national currency (including 'euro fixed' series for euro area countries)"

     Country           2006          2007          2008          2009          2010          2011      Change 2007-2011
EU (27 countries) 5,412,412.9 5,655,997.7 5,873,061.8 5,995,646.3 6,203,492.7 6,200,870.6 9.6%
Belgium 154,553.6 161,999.8 172,381.5 183,048.8 187,134.0 196,694.7 21.4%
Bulgaria 17,798.8 23,928.2 26,540.1 27,791.6 26,388.9 26,495.2 10.7%
Czech Republic 1,406,993.0 1,503,113.0 1,583,527.0 1,679,551.0 1,665,082.0 1,651,691.0 9.9%
Denmark 841,696.0 861,289.0 903,263.0 966,642.0 1,014,512.0 1,035,233.0 20.2%
Germany 1,049,290.0 1,056,760.0 1,089,590.0 1,142,090.0 1,185,750.0 1,173,500.0 11.0%
Estonia 4,499.7 5,460.2 6,437.6 6,259.7 5,811.1 6,099.5 11.7%
Ireland 61,095.5 69,535.0 77,072.6 78,415.7 104,181.5 76,220.3 9.6%
Greece 94,407.0 106,009.0 117,963.0 124,646.0 114,106.0 107,769.0 1.7%
Spain 377,958.0 412,963.0 450,948.0 484,759.0 479,645.0 468,505.0 13.4%
France 952,566.2 992,618.8 1,030,023.0 1,070,584.0 1,095,604.0 1,118,468.0 12.7%
Italy 723,375.0 740,269.0 765,537.0 788,361.0 784,470.0 788,735.0 6.5%
Cyprus 6,144.6 6,542.4 7,228.0 7,794.3 8,035.9 8,401.1 28.4%
Latvia 4,263.2 5,292.3 6,286.9 5,804.0 5,586.5 5,535.0 4.6%
Lithuania 27,846.0 34,367.4 41,680.0 40,218.1 38,905.9 39,742.3 15.6%
Luxembourg 13,084.9 13,596.5 14,637.7 16,080.4 17,085.2 17,987.7 32.3%
Hungary 12,355,419.0 12,668,672.0 13,063,142.0 13,165,033.0 13,231,191.0 13,703,311.7 8.2%
Malta 2,246.3 2,328.8 2,567.7 2,528.3 2,649.0 2,746.5 17.9%
Netherlands 246,028.0 258,843.0 274,781.0 294,424.0 301,236.0 301,756.0 16.6%
Austria 127,293.3 133,180.4 139,493.9 145,360.2 150,587.6 152,040.2 14.2%
Poland 464,977.0 496,428.0 550,904.0 598,875.0 642,957.0 665,078.0 34.0%
Portugal 72,735.7 75,112.7 77,055.3 83,842.4 88,502.4 83,615.0 11.3%
Romania 122,500.0 159,062.7 202,196.8 205,997.9 210,083.5 218,159.5 37.2%
Slovenia 13,838.7 14,680.8 16,491.6 17,403.1 17,797.2 18,148.6 23.6%
Slovakia 20,087.5 21,022.1 23,339.5 26,078.9 26,329.0 25,823.8 22.8%
Finland 81,619.0 85,295.0 91,556.0 96,788.0 99,835.0 103,530.0 21.4%
Sweden 1,552,128.0 1,592,807.0 1,657,889.0 1,706,362.0 1,747,770.0 1,792,738.0 12.6%
United Kingdom 586,956.0 616,626.0 685,969.0 717,320.0 735,938.0 738,885.0 19.8%
Iceland 486,616.0 553,093.9 853,725.3 763,326.9 791,879.7 751,048.3 35.8%
Norway 873,144.0 930,372.0 1,018,108.0 1,101,033.0 1,148,192.8 1,209,623.0 30.0%
Switzerland 164,255.3 168,432.1 176,446.7 182,906.8 188,136.6 : N/A

Source:
http://epp.eurostat.ec.europa.eu/portal/page/portal/statisti...
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