Word: debt
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It’s beginning to look like the Fates had it in for Greece. Of all the eurozone countries, it has been hit hardest by the global recession. Even as the rest of the world begins to recover from the recent financial crisis, interest rates on Greek debt have skyrocketed. While the government continues to spend liberally, investors have lost faith that the country will emerge from its economic doldrums...
Opinion is mixed about whether tax that primarily targets the rich would solve today's debt problems. "Once the marginal rate exceeds 40%, you get high levels of tax avoidance and evasion," says Daniel Feenberg, an associate with the National Bureau of Economic Research in Cambridge, Mass. (See the best business deals...
...right, but selling a European-style VAT to Americans is a bit like selling snake poison and would likely mean political suicide for any of its supporters. That said, there's no hiding the fact that the ratio of public debt to GDP is expected to balloon from...
Pacific Investment Management Co., based in Newport Beach, Calif., and manager of the world's biggest bond mutual fund, is warning investors that Britain's stratospheric debt load is resting on a bed of uncertainty comparable to "nitroglycerin." If Britain is receiving such harsh criticism from money managers, can the U.S. be far behind...
Which makes the backdrop to the pound's latest dip - the massive public debt and deficit, and the potential threat to Britain's triple A investment rating - a far greater problem for the currency than anything else. The rest is small change...