<html><body><p>For <a href="https://quotes.tuteehub.com/tag/highly-4483" style="font-weight:bold;" target="_blank" title="Click to read more quotes about HIGHLY">HIGHLY</a> indebted <a href="https://quotes.tuteehub.com/tag/governments-8953" style="font-weight:bold;" target="_blank" title="Click to read more quotes about GOVERNMENTS">GOVERNMENTS</a>, low <a href="https://quotes.tuteehub.com/tag/interest-2681" style="font-weight:bold;" target="_blank" title="Click to read more quotes about INTEREST">INTEREST</a> <a href="https://quotes.tuteehub.com/tag/rates-8882" style="font-weight:bold;" target="_blank" title="Click to read more quotes about RATES">RATES</a> are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The <a href="https://quotes.tuteehub.com/tag/shift-1869" style="font-weight:bold;" target="_blank" title="Click to read more quotes about SHIFT">SHIFT</a> to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.</p></body></html>

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For HIGHLY indebted GOVERNMENTS, low INTEREST RATES are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The SHIFT to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.

Author - Michael Spence Subject - Debt

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For HIGHLY indebted GOVERNMENTS, low INTEREST RATES are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The SHIFT to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.

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For HIGHLY indebted GOVERNMENTS, low INTEREST RATES are critical to keep debt levels sustainable and ease pressure to restructure debt and recapitalize banks. The SHIFT to a high sovereign-debt-yield equilibrium would make it impossible to achieve fiscal balance.

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