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Nouriel Roubini, Arpitha Bykere: The Coming Sovereign Debt Crisis

First Posted: 03/18/10 06:12 AM ET Updated: 05/25/11 04:10 PM ET

Roubini Sovereign Debt Crisis
Several Advanced Economies Risk Suffering A Sovereign Debt Crisis, Say Nouriel Roubini And Arpitha Bykere

The severe recession, combined with a financial crisis during 2008-09, worsened the fiscal positions of developed countries due to stimulus spending, lower tax revenues and support to the financial sector. The impact was greater in countries that had a history of structural fiscal problems, maintained loose fiscal policies and ignored fiscal reforms during the boom years. Going forward, a weak economic recovery and an aging population is likely to increase the debt burden of many advanced economies, including the U.S., Britain, Japan and several eurozone countries.

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Filed by Grace Kiser  |