The economic policies of many European countries have been influenced by social democratic principles (the most notable being [[Denmark]], [[Finland]], [[Norway]] and [[Sweden]]). While such countries are often touted as having the highest living standards in the world, they also share very high tax rates and slower growth rates as compared to rest of the world (with the exception of Sweden). [[Germany]] has been ruled three times by the [[Social Democratic Party]]. The policies of this party have increased the debt.
+
The economic policies of many European countries have been influenced by social democratic principles (the most notable being [[Denmark]], [[Finland]], [[Norway]] and [[Sweden]]). While such countries are often touted as having the highest living standards in the world, they also share very high tax rates and slower growth rates as compared to rest of the world (with the exception of Sweden). [[Germany]] has been ruled three times by the [[SPD]]. The policies of this party have increased the debt.