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Old Nov 24, 2017 | 10:07 am
  #18  
N.eu
 
Join Date: Nov 2017
Posts: 20
Originally Posted by valdor
The national debt of the EU is also around 20 trillion USD.

As for why European credit cards pay ridiculously low rewards, you are correct. It's unlikely that you'll find a "great" credit card in Europe. You may actually be better off with a USD card that has no forex fee or one of those Singapore cards that pay 5-10% cashback on overseas spend.
Our debt level is 83.5% which is quite healthy. It'll go even lower since all the EU states are working on reducing and sometimes totally eliminated their national debt. There are several states where there is less than 30% and there are some with less than 20% of debt. There is even one state with less 10%. Compare this to the 110%+ in the US which will skyrocket to 150% in 5 years and over 200% in max. 15 years. Furthermore your 110% debt to GDP ratio does not even include your state debts. Our 83.5% to GDP ratio contains all and it's the real number. The actual American debt is more like 200%+ at the moment, according to US professors. Our debt is sustainable because even though EUR is a reserve currency, our conservative approach would never allow us to recklessly spend from loans.

Right, I may be better off with a USD card but transacting in Dollars is a nightmare compared to Euros. We can send Euros within 1-2 hours to anywhere while Dollar transactions take days to receive. Furthermore there isn't any good USD rewards card in the EU and obtaining a credit card in the US as a non resident alien is next to impossible and definitely doesn't worth the time.

Last edited by N.eu; Nov 24, 2017 at 10:14 am
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