The Economist (July 7)
2011/ 07/ 08 by jd in Global News
“Deleveraging will dominate the rich world’s economies for years. Done badly, it could wreck them.” The countries that most ballooned their debt are now struggling to reduce it. This is having a major impact on spending and economies. Moreover, citing analysis by the McKinsey Global Institute, attempts to reduce debt have only just begun. For example, “the ratio of total debt to GDP in both America and Britain has fallen by just over ten percentage points from its peak—a fraction of the scale of debt reduction in a typical deleveraging period.”
Tags: Debt, Deleveraging, McKinsey, U.S., UK
