Debt in advanced world has grown during crisis; Two-thirds of fall in US household debt due to defaults
Jan 20th, 2012 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The deleveraging process of cutting debt has only just begun in most countries of the advanced world. Based on data up to Q2 2011, total debt has actually grown across the world’s 10 largest developed economies since the 2008–09 financial crisis, due mainly to rising government debt. Two thirds of the fall in US household debt is due to defaults on home loans and consumer debt.