Who actually holds the global debt?
By International Adviser, 8 Jun 18
Despite much talk of debt reduction and deleveraging since the financial crisis, global debt levels are higher than ever before. Several risks arise for investors and for financial and economic stability, according to Daniel Murray, head of global research at EFG Asset Management.
Private debt becomes public debt
The first is that debt issued by the private sector may eventually become public sector debt.
In the eurozone crisis, for example, many governments had to support domestic financial institutions, taking on their debt or issuing government debt to pay for financial support.
Tags: EFG
