Should Europeans permit eurobonds, they would create a large and attractive continental debt market which could profit by lower interest rates ( as the United States does, despite a much higherlevelof public debt).
The first measure comes from the Bank of International Settlements, which found that if private debt as a share of GDP accelerates to a level 6% higher than its trend over the previous decade, the acceleration is an early warning of serious financial distress.
Is there a possibility that at some point, again like in a real estate partnership, the U.S. debt will rise to such a level that you start having to pay a higher rate of interest?