According to a study conducted by German think tank CEP that was published today by Deutsche Welle, the financial crisis is beginning to affect northern European countries such as Finland and Belgium, which have seen their credit rating affected by the prolonged crisis in the north.
Perhaps the more interesting finds of the study concerned the 2014 default index for the rest of the European countries, including Greece and Italy. According to the economists conducting the study, Greece will never be able to ay off its debts. The study is more optimistic in its predictions for Ireland and Spain.
Aside from the debt itself, the German think tank’s study took into consideration investment activities, as competition is directly affected by the credit rating of a country. In the case of Greece they saw no improvements and observed a continued reduction of creditworthiness.
