Europe is facing a fiscal reckoning as governments struggle to balance the books amidst geopolitical instability and economic stagnation. According to the latest data from Eurostat and national agencies, many nations are now operating well beyond the European Union’s 3% deficit threshold.
From rising defense costs to energy shocks, click on to discover which nations are swimming in red ink (and why).
Note: the percentage listed next to each country represents its government budget balance as a share of its total GDP