Κυριακή, 4 Δεκεμβρίου 2011

Guess Which Country Has Debt Of Nearly 1000% Of GDP...


It's the UK, per this excellent chart from Morgan Stanley.
debt
Image: Morgan Stanley
A few notes here:
  • This chart is looking at all kinds of debt, not just sovereign debt. The UK's staggering debt-to-GDP ratio is largely due to the size of its financial sector.
  • All financial sector debt is, to some extent, potentially government debt, since all governments end up having to rescue their financial sectors in the event of a crisis. That's what brought down Iceland and Ireland.
  • And yet, for reasons we explained here, the UK is still seen as a gold-standard among safe-havens.
  • By no measure does the US look  remarkable debt-wise -- even household debt/GDP doesn't look that bad. For that matter, Europe doesn't look that bad either. Their problem is not debt, but fiscal/monetary structure.


Read more: http://www.businessinsider.com/g10-countries-by-total-debt-to-gdp-2011-12#ixzz1fazCg8VM

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