Euro area government deficit fell to 3.1% in 2024, down from 3.5% in 2023 and 5.1% in 2021

its crazy how good Europe’s finances look compared to US

Euro area: 87.4% debt to GDP ratio, 3.1% deficit

EU as a whole: 81% debt to GDP ratio, 3.2% deficit

US: 121% debt to GDP ratio, 6.2% deficit

all values are for 2024

there are individual countries with problems ,however, like France at 113% debt to GDP and 5.8% budget deficit last year, or Italy at 135% debt to GDP ratio and 3.4% deficit, but even those look decent for US standards, not to mention that falling interest rates will help them lower interests payments and give them some fiscal space to increase defense or infrastructure spending

but others , especially the Germanic countries sans Austria have ridiculously low debts and deficits

even higher defense spendings and aging population wont impact them that much, as they already have an old population so the extra aging will be slower

biggest story of the decade is that Southern countries; have now one of the most solid finances in the world, having low deficits(Spain0 or even surpluses(Portugal,Greece). and their population is already very old ,so the impact of aging is increasing at a slow rate at this point