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higher debt/gdp ratios does not particularly mean more debt. in fact, they’re more likely than not going to reduce their debt over time.. but the slowdown in gdp will not let the debt/gdp ratio drop and that’s what’s killing them–austerity does not provide growth, despite what the EU is attempting to accomplish
chivo,
if austerity does not work and we are in a lumpy growth period fighting deflation at best; then yields and currency problems will plague us once again.
Given the stress and time to piece humpty dumpty together this time around…what will it be like down the road ?