Liberalised global finance and rising inequality may thus have led to surging public debts.
With the economy contracting and public debts ballooning, policymakers need to find savings wherever they can.
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By contrast, Europe, Japan, and the U.S. are now facing potential limits to their ability to finance their public debts.
Conservative Sajid Javed will propose a ten minute rule bill designed to put an american-style legal ceiling on the UK's public debts.
Additionally, the ECB statutes explicitly forbid it from creating money to finance public debts directly, it was created to maintain political independence.
Both countries' public debts have long been bigger than their annual GDP.
Italy already has one of the biggest public debts in the world - the result of decades of failing to balance its national accounts.
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Consumers worry about their jobs, their pensions, their government's incompetence, public debts, private debts, rising crime, a falling birth rate, their children's education and their parents' health care.
Such anxiety is likely to be bigger when public debts are worryingly high because taxpayers judge that the need to reduce the deficit will soon hurt their finances.
Those of you have struggled this far might wonder whether, in an environment of massive private and public debts, a bit more inflation might not be such a bad thing.
That way, at least, it could write down the value of its private and public debts, as well as cutting its wages and prices relative to those abroad, improving its competitiveness.
The point of both QE and more "unconventional" policies is to create more economic activity and prevent deflation, in an environment in which private and public debts are being painfully brought down.
At a time when America urgently needs to rebuild its revenue base and continue unwinding its public debts, it's little wonder that lawmakers cast a covetous eye on the overseas profits of U.S. firms.
In power since December, its new government has moved quickly to reform the labor market and cut public debts, but the total hole on the balance sheets of its banks has remained the big unknown.
Achieving such a coalition, appointing a credible finance minister and Central Bank president, and pledging to press on with some long-delayed economic reforms might persuade nervous investors that a President Lula could handle Brazil's huge public debts.
With big public-sector debts (the euro-zone average is 84% of GDP), restoring fiscal health could take decades of austerity, especially if growth is sluggish.
Its already large (though circumscribed) liability in the euro zone, through bail-outs to individual countries, could become something like an unlimited liability for the public and private debts of others.
With public and private external debts at record highs, many advanced economies are increasingly looking inward for public debt placements.
Another, unofficial, proposal is for traders to increase their provision for bad debts until a public-education programme persuades people to behave better.
The big investors of 2000, at the heights of their careers, openly worried about the size of U.S. debts, both public and private.
Cameron's popularity has taken a beating as the government sticks to a strict policy of austerity to cut Britain's debts, slashing public sector jobs and welfare payments.
The church prescribes a seven-step course of rehabilitation, called A to E, for penitents seeking to get back into its good graces, which includes returning debts and making public declarations of error.
Mr. Tsipras further promised a number of initiatives that appeal to every citizen touched by the crisis: raising the minimum wage, restoring collective bargaining, re-hiring public employees, eliminating certain personal debts, and nationalizing banks.
U.K. gross domestic product fell 0.2% in the first quarter of this year after a 0.3% contraction in the final three months of 2011, raising fresh questions about the wisdom of the government's plan to slash spending and cut hundreds of thousands of public sector jobs to reduce its debts.
But with the banks in such a mess, partners may have to be lured with public money to write off their bad debts.
When the African National Congress came to power in 1994, it inherited big debts and a bunch of public utilities that guzzled subsidies and, for the most part, offered rotten service at extortionate prices.
And he said it would be a far better use of public money than covering the banks' toxic debts.
Today the public is focused on federal outlays, deficits, and debts.
"Some people have said that stopping government payments to Child Trust Funds isn't fair to children, but there would be nothing fair about leaving the next generation with unsustainable debts that would mean higher taxes and poorer public services, " he said.
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