Nouriel Roubini: Public debt is rising the world over—can bond vigilantes save the day?
· livemint.com
Governments may attempt gimmicks to avert a debt crisis, but ultimately only fiscal discipline and higher potential growth driven by technological innovations can make debt sustainable. Can we pin our hopes on bond markets to force fiscal prudence?
Large, growing budget deficits and rising public debt-to-gross domestic product (GDP) ratios in advanced economies are rattling markets. With interest rates on ...