A record of over 1 billion air passengers travelled by air in the European Union in 2017. In 2017, 1.04 billion passengers travelled by air in the European Union (EU), up by 7% compared with 2016 and by 39% compared with 2009.
In 2017, intra-EU transport represented almost half (47%) of total air passenger transport in the EU and extra-EU transport over a third (36%), while national transport accounted for fewer than 1 in every 5 passengers (17%).
Social protection expenditure in the European Union (EU) stood at 28.2% of GDP in 2016. In 2016, the two main sources of funding of social protection at EU level were social contributions, making up 55% of total receipts, and general government contributions from taxes at 40%.
Sweden’s Central Bank, the Riksbank raised interest rates for the first time in seven years on Thursday which might cause further European monetary tightening. Riksbank’s benchmark repo rate was raised 25 bps from -0.5% earlier to -0.25%. It still remains negative though.
European Union total debt (Debt of general governments and the private sector) as percentage of GDP is now over 300%. Ireland’s total debt to GDP is an eye watering 450%. A decade ago the EU total debt to GDP was 180%, the debt bubble is well and truly here.