It's not so much the debt as what you are doing about it.
As a householder, a 250K mortgage is OK while you are paying it down. Hence UK's Plan A to get to that position.
But it is an increasing disaster if you can't pay it down because of the interest rate, your other bills, and various members of your family maxing out a new credit card every month. Which is where the eurozone is stuck.
The money markets agree. I think this the message that sas and others try and put across here, but some can't seem to grasp it.
As a householder, a 250K mortgage is OK while you are paying it down. Hence UK's Plan A to get to that position.
But it is an increasing disaster if you can't pay it down because of the interest rate, your other bills, and various members of your family maxing out a new credit card every month. Which is where the eurozone is stuck.
The money markets agree. I think this the message that sas and others try and put across here, but some can't seem to grasp it.
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