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#publicdebt

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Europe Says<p><a href="https://www.europesays.com/2231431/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/2231431/</span><span class="invisible"></span></a> Rewiring Sovereign Capital: Europe’s structured liquidity revolution <a href="https://pubeurope.com/tags/AltFundsGlobal" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>AltFundsGlobal</span></a> <a href="https://pubeurope.com/tags/CarbonCredits" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CarbonCredits</span></a> <a href="https://pubeurope.com/tags/ClimateCommitments" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ClimateCommitments</span></a> <a href="https://pubeurope.com/tags/Economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Economy</span></a> <a href="https://pubeurope.com/tags/EconomyOfEU" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomyOfEU</span></a> <a href="https://pubeurope.com/tags/EconomyOfEurope" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomyOfEurope</span></a> <a href="https://pubeurope.com/tags/EconomyOfEuropeanUnion" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomyOfEuropeanUnion</span></a> <a href="https://pubeurope.com/tags/EconomyOfTheEU" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomyOfTheEU</span></a> <a href="https://pubeurope.com/tags/EconomyOfTheEuropeanUnion" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomyOfTheEuropeanUnion</span></a> <a href="https://pubeurope.com/tags/EUEconomy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EUEconomy</span></a> <a href="https://pubeurope.com/tags/Europe" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Europe</span></a> <a href="https://pubeurope.com/tags/EuropeMarkets" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EuropeMarkets</span></a> <a href="https://pubeurope.com/tags/EuropeanMarkets" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EuropeanMarkets</span></a> <a href="https://pubeurope.com/tags/infrastructure" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>infrastructure</span></a> <a href="https://pubeurope.com/tags/markets" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>markets</span></a> <a href="https://pubeurope.com/tags/MiddleEast" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MiddleEast</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://pubeurope.com/tags/SovereignBonds" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SovereignBonds</span></a> <a href="https://pubeurope.com/tags/SovereignCapital" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SovereignCapital</span></a> <a href="https://pubeurope.com/tags/SovereignWealthFunds" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SovereignWealthFunds</span></a> <a href="https://pubeurope.com/tags/TaimourZaman" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TaimourZaman</span></a> <a href="https://pubeurope.com/tags/TraditionalDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TraditionalDebt</span></a></p>
Bytes Europe<p>Foreign minister: Estonia will have to borrow more to hike defense spending | News <a href="https://www.byteseu.com/1159896/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">byteseu.com/1159896/</span><span class="invisible"></span></a> <a href="https://pubeurope.com/tags/borrowing" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>borrowing</span></a> <a href="https://pubeurope.com/tags/DefenseSpending" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DefenseSpending</span></a> <a href="https://pubeurope.com/tags/Estonia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Estonia</span></a> <a href="https://pubeurope.com/tags/eu" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>eu</span></a> <a href="https://pubeurope.com/tags/MargusTsahkna" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MargusTsahkna</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://pubeurope.com/tags/safe" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>safe</span></a> <a href="https://pubeurope.com/tags/SvenMikser" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>SvenMikser</span></a></p>
Bytes Europe<p>Bank of Finland forecasts slow recovery, rising debt <a href="https://www.byteseu.com/1097105/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">byteseu.com/1097105/</span><span class="invisible"></span></a> <a href="https://pubeurope.com/tags/BankOfFinland" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BankOfFinland</span></a> <a href="https://pubeurope.com/tags/EconomicOutlook" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomicOutlook</span></a> <a href="https://pubeurope.com/tags/EconomicRecovery" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomicRecovery</span></a> <a href="https://pubeurope.com/tags/Finland" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Finland</span></a> <a href="https://pubeurope.com/tags/FinlandGDP2026" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FinlandGDP2026</span></a> <a href="https://pubeurope.com/tags/FinnishEconomy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FinnishEconomy</span></a> <a href="https://pubeurope.com/tags/FiscalDeficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FiscalDeficit</span></a> <a href="https://pubeurope.com/tags/GDPForecast" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>GDPForecast</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a></p>
Bytes Europe<p>EU allows Bulgaria to use euro from 2026, but wants it to ‘fight corruption’ – Firstpost <a href="https://www.byteseu.com/1074315/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">byteseu.com/1074315/</span><span class="invisible"></span></a> <a href="https://pubeurope.com/tags/Bulgaria" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Bulgaria</span></a> <a href="https://pubeurope.com/tags/CurrencyTransition" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>CurrencyTransition</span></a> <a href="https://pubeurope.com/tags/ECB" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ECB</span></a> <a href="https://pubeurope.com/tags/EconomicIntegration" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomicIntegration</span></a> <a href="https://pubeurope.com/tags/EUAllowsBulgariaToUseEuroFrom2026" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EUAllowsBulgariaToUseEuroFrom2026</span></a> <a href="https://pubeurope.com/tags/EuroAdoption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EuroAdoption</span></a> <a href="https://pubeurope.com/tags/EuropeanUnion" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EuropeanUnion</span></a> <a href="https://pubeurope.com/tags/Eurozone" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Eurozone</span></a> <a href="https://pubeurope.com/tags/Inflation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Inflation</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://pubeurope.com/tags/Russia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Russia</span></a></p>
Strypey<p>For example, Malpass uncritically parrots the NatACT talking point that public debt needs to be "brought under control". Never noting that NZ public debt is low by OECD standards;</p><p><a href="https://briefingpapers.co.nz/public-debt-how-low-should-it-go/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">briefingpapers.co.nz/public-de</span><span class="invisible">bt-how-low-should-it-go/</span></a></p><p>Nor that public debt isn't necessarily the existential crisis it's made out to be. Nor that private debt to foreign lenders is just as much a potential risk to public finances as public debt, which is at least under some level of democratic control;</p><p><a href="https://www.scoop.co.nz/stories/HL2010/S00085/public-debt-pay-it-back-or-pay-it-forward.htm" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">scoop.co.nz/stories/HL2010/S00</span><span class="invisible">085/public-debt-pay-it-back-or-pay-it-forward.htm</span></a></p><p>(2/2)</p><p><a href="https://mastodon.nzoss.nz/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a></p>
Miguel Afonso Caetano<p>"Since the Seventies, America’s deficits have provided East Asia (first Japan, then China) and Europe (primarily Germany) the demand for their factories’ manufactures. In return, the European Union, Japan and later China sent their accumulated profits to Wall Street to be recycled into US private and public debt, some equities, and real estate. A Chinese official once described this mechanism to me as a “dark deal”. “Our Dark Deal with the Americans,” the official explained, “turns on the US trade deficit, which keeps demand for our manufactures high. In return, our capitalists invest the bulk of their dollar superprofits into America’s FIRE”. (The acronym stands for “Finance, Insurance, and Real Estate.”) “Once this process got underway, America shifted much of its industrial production to our shores.”</p><p>The problem with this global recycling mechanism was that, to function smoothly, it had to generate larger and larger imbalances: greater trade deficits for the US and more accumulated savings for Northern Europe and East Asia. But there are limits to how large imbalances can grow. Ruptures are inevitable. The longer they are delayed, the greater the pain they inflict — a truth that centrists never acknowledged, not even when it was tearing down their houses.</p><p>Trump’s greatest strength comes from asking the pressing question that the centrists refuse to countenance: what comes after the Dark Deal? What comes after the imbalances built on the US trade deficit have proven unsustainably massive? Scott Bessent, Trump’s Treasury Secretary, put it succinctly in a recent speech at the IMF: “Everywhere we look across the international economic system today, we see imbalance… This status quo of large and persistent imbalances is not sustainable… The persistent over-reliance on the United States for demand is resulting in an evermore unbalanced global economy.”"</p><p><a href="https://unherd.com/2025/05/the-centrist-comeback-wont-last/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">unherd.com/2025/05/the-centris</span><span class="invisible">t-comeback-wont-last/</span></a></p><p><a href="https://tldr.nettime.org/tags/Centrism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Centrism</span></a> <a href="https://tldr.nettime.org/tags/Liberalism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Liberalism</span></a> <a href="https://tldr.nettime.org/tags/USA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>USA</span></a> <a href="https://tldr.nettime.org/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> <a href="https://tldr.nettime.org/tags/FreeTrade" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FreeTrade</span></a> <a href="https://tldr.nettime.org/tags/PoliticalEconomy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PoliticalEconomy</span></a> <a href="https://tldr.nettime.org/tags/TradeDeficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TradeDeficit</span></a> <a href="https://tldr.nettime.org/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a></p>
Miguel Afonso Caetano<p>"Japan’s finance minister has publicly identified the country’s more than $1tn holdings of US Treasuries as a “card” in its trade negotiations with the Trump administration, in a rare baring of teeth by America’s closest ally in Asia.</p><p>Speaking during a television interview on Friday, Katsunobu Kato was asked whether Japan would use its traditional stance as a non-seller of Treasuries as a tool in trade talks with Washington.</p><p>“It does exist as a card,” said Kato, adding that “whether or not we use that card is a different decision”.</p><p>Japanese holders, including the government, own $1.13tn of Treasuries, the largest hoard held by a foreign nation.</p><p>There is no suggestion that Tokyo is considering any sales of official Treasury holdings. But traders said that even the reference to such an action as a “card” could add to volatility in a US bond market that has lurched violently since April 2 when Donald Trump announced sweeping “reciprocal” tariffs on US trade partners."</p><p><a href="https://www.ft.com/content/912f861f-26c8-4bcd-aca0-75a09e5767cc" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">ft.com/content/912f861f-26c8-4</span><span class="invisible">bcd-aca0-75a09e5767cc</span></a></p><p><a href="https://tldr.nettime.org/tags/USA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>USA</span></a> <a href="https://tldr.nettime.org/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> <a href="https://tldr.nettime.org/tags/Tariffs" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tariffs</span></a> <a href="https://tldr.nettime.org/tags/TradeWar" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TradeWar</span></a> <a href="https://tldr.nettime.org/tags/Protectionism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Protectionism</span></a> <a href="https://tldr.nettime.org/tags/Japan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Japan</span></a> <a href="https://tldr.nettime.org/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://tldr.nettime.org/tags/USTreasuries" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>USTreasuries</span></a></p>
Emeritus Prof Christopher May<p>Hmmm... I see that Japan, the largest holder of US T-bills (US public debt), now sees them as a 'card' in their negotiations with the US over tariff levels. They claim they are not considering divesting, but even to call it a card must put their holdings 'into play'....</p><p>How this will play in the Court of the Tangerine Tyrant will be interesting.</p><p><a href="https://zirk.us/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://zirk.us/tags/politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>politics</span></a> <a href="https://zirk.us/tags/japan" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>japan</span></a> </p><p>h/t FT</p>
Bytes Europe<p>Trade war threat looms over Finland’s economic recovery, says ministry forecast <a href="https://www.byteseu.com/972325/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">byteseu.com/972325/</span><span class="invisible"></span></a> <a href="https://pubeurope.com/tags/DefenceSpending" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DefenceSpending</span></a> <a href="https://pubeurope.com/tags/EconomicForecast" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomicForecast</span></a> <a href="https://pubeurope.com/tags/Employment" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Employment</span></a> <a href="https://pubeurope.com/tags/EUTariffs" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EUTariffs</span></a> <a href="https://pubeurope.com/tags/Finland" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Finland</span></a> <a href="https://pubeurope.com/tags/FinlandEconomy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FinlandEconomy</span></a> <a href="https://pubeurope.com/tags/FinnishExports" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FinnishExports</span></a> <a href="https://pubeurope.com/tags/FinnishGDP" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FinnishGDP</span></a> <a href="https://pubeurope.com/tags/GovernmentDeficit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>GovernmentDeficit</span></a> <a href="https://pubeurope.com/tags/Inflation" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Inflation</span></a> <a href="https://pubeurope.com/tags/MinistryOfFinance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>MinistryOfFinance</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://pubeurope.com/tags/TradeWar" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TradeWar</span></a></p>
Miguel Afonso Caetano<p>"Analysts and fund managers say the Treasury sell-off was primarily powered by a retrenchment of investors from the US government bond market, fearful that tariffs would fuel inflation and unnerved by what some say is an increasingly erratic administration that has antagonised allies and imperilled the country’s own economy. </p><p>However, many stress that the turmoil was also exacerbated by highly leveraged hedge fund strategies. These “relative-value” trades usually seek to take advantage of often tiny differences in prices between Treasury bonds and various derivatives contracts linked to them. Using short-term funding markets to borrow extreme amounts of money, they can transform small profits into large ones. </p><p>These trades have helped turn the club of big hedge funds that pursue them into vital pillars of the $29tn Treasury market, helping restrain the US government’s borrowing costs at a time when interest rates have been rising. Their importance is only likely to climb if foreign investors pull back from the Treasury market, as many analysts and fund managers predict.</p><p>However, many fear that they also make Treasuries vulnerable to sudden shocks."</p><p><a href="https://www.ft.com/content/0bf5bcc2-6ff1-4309-afbf-f470250a4721" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">ft.com/content/0bf5bcc2-6ff1-4</span><span class="invisible">309-afbf-f470250a4721</span></a></p><p><a href="https://tldr.nettime.org/tags/USA" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>USA</span></a> <a href="https://tldr.nettime.org/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Trump</span></a> <a href="https://tldr.nettime.org/tags/Tariffs" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Tariffs</span></a> <a href="https://tldr.nettime.org/tags/TreasuryMarket" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TreasuryMarket</span></a> <a href="https://tldr.nettime.org/tags/HedgeFunds" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>HedgeFunds</span></a> <a href="https://tldr.nettime.org/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a></p>
Europe Says<p><a href="https://www.europesays.com/2019857/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/2019857/</span><span class="invisible"></span></a> IMF says tariff pressures to push global public debt past pandemic levels <a href="https://pubeurope.com/tags/business" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>business</span></a> <a href="https://pubeurope.com/tags/DefenseSpending" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>DefenseSpending</span></a> <a href="https://pubeurope.com/tags/EconomicPressures" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EconomicPressures</span></a> <a href="https://pubeurope.com/tags/Economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Economy</span></a> <a href="https://pubeurope.com/tags/FiscalDeficits" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>FiscalDeficits</span></a> <a href="https://pubeurope.com/tags/GlobalGDP" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>GlobalGDP</span></a> <a href="https://pubeurope.com/tags/GovernmentBudgets" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>GovernmentBudgets</span></a> <a href="https://pubeurope.com/tags/InternationalMonetaryFund" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>InternationalMonetaryFund</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://pubeurope.com/tags/VitorGaspar" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>VitorGaspar</span></a></p>
Europe Says<p><a href="https://www.europesays.com/2001902/" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/2001902/</span><span class="invisible"></span></a> We will not default in loan repayment <a href="https://pubeurope.com/tags/business" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>business</span></a> <a href="https://pubeurope.com/tags/default" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>default</span></a> <a href="https://pubeurope.com/tags/Economy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Economy</span></a> <a href="https://pubeurope.com/tags/Finance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Finance</span></a> <a href="https://pubeurope.com/tags/JOHNMBADI" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>JOHNMBADI</span></a> <a href="https://pubeurope.com/tags/NdindiNyoro" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NdindiNyoro</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://pubeurope.com/tags/StarNews" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>StarNews</span></a> <a href="https://pubeurope.com/tags/StarNewsKenya" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>StarNewsKenya</span></a> <a href="https://pubeurope.com/tags/TheStar" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TheStar</span></a> <a href="https://pubeurope.com/tags/TheStarNewspaper" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>TheStarNewspaper</span></a></p>
Emeritus Prof Christopher May<p>'fiscal credibility' cont'd:</p><p>The UK has no record of defaults &amp; is very unlikely to now, so the real issue is yield (price of bonds). The lower the price the higher the yield of existing bonds on the secondary market, and the higher the interest rate that would need to be offered on new issues to 'encourage' buyers.</p><p>This comes down to better profits for investors - so the judgement of 'bond vigilantes' is all about their profits when they spot political weakness!</p><p><a href="https://zirk.us/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://zirk.us/tags/politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>politics</span></a> <br>2/2</p>
Emeritus Prof Christopher May<p>This week, you're going to hear a lot about 'fiscal credibility' &amp; the 'bond market sentiment'.... to translate:</p><p>Investors who buy/deal in public debt are expected to judge Rachel Reeves Spring Statement by how it will support growth, &amp; importantly produce an economy without an inflation 'problem'.</p><p>Bond holders want a stable currency for their assets (Gilts/public debt) so interest payments hold their value &amp; a clear indication of no default.</p><p>1/2</p><p><a href="https://zirk.us/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://zirk.us/tags/Politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Politics</span></a></p>
Emeritus Prof Christopher May<p>The next time someone tells you that the UK public debt service costs are unsustainable &amp; as a result cuts are required to public sector budgets (such as welfare or health) you might want to show them the chart below, which shows the UK is both below the OECD average &amp; well below the proportion paid by the USA.</p><p>Such claims are not economics but political cover for cuts they want to make regardless of any fiscal rules or claims for probity!</p><p>Just sayin'</p><p><a href="https://zirk.us/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <a href="https://zirk.us/tags/politics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>politics</span></a></p>
Miguel Afonso Caetano<p>"La France Insoumise MP David Guiraud told Jacobin in January that France’s manufactured deficit crisis was part of a premeditated plan to cut social spending.</p><p>“French capitalists have never tolerated social security,” Guiraud said then. “When it was created . . . it was hundreds of billions of euros which escaped the logic of the private sector, hundreds of billions of euros which they couldn’t make a profit off of. They know that they’re breaking social security. They know it. I think they do it deliberately for the most part.”</p><p>Boosting military spending while trying to maintain “fiscal discipline” will result in the same thing. A column by Janan Ganesh in the Financial Times on March 5 titled “Europe must trim its welfare state to build a warfare state” gave away the game even more directly.</p><p>“[T]he welfare state as we have known it must retreat somewhat: not enough that we will no longer call it by that name, but enough to hurt,” Ganesh wrote.</p><p>The threat of war is a useful motive.</p><p>“Chronic discomfort isn’t enough,” Ganesh elaborated. “An element of real fear has to come in, as perhaps it has now.”"</p><p><a href="https://jacobin.com/2025/03/france-eu-defense-spending-austerity" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">jacobin.com/2025/03/france-eu-</span><span class="invisible">defense-spending-austerity</span></a></p><p><a href="https://tldr.nettime.org/tags/EU" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>EU</span></a> <a href="https://tldr.nettime.org/tags/France" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>France</span></a> <a href="https://tldr.nettime.org/tags/Macron" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Macron</span></a> <a href="https://tldr.nettime.org/tags/RadicalCentrism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>RadicalCentrism</span></a> <a href="https://tldr.nettime.org/tags/Rearmament" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Rearmament</span></a> <a href="https://tldr.nettime.org/tags/WarfareState" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WarfareState</span></a> <a href="https://tldr.nettime.org/tags/WelfareState" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>WelfareState</span></a> <a href="https://tldr.nettime.org/tags/Austerity" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>Austerity</span></a> <a href="https://tldr.nettime.org/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a></p>
Strypey<p>"Public sector net debt excluding public sector banks was provisionally estimated at 98.5% of gross domestic product (GDP) at the end of September 2024 ..."</p><p><a href="https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/bulletins/publicsectorfinances/september2024" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">ons.gov.uk/economy/governmentp</span><span class="invisible">ublicsectorandtaxes/publicsectorfinance/bulletins/publicsectorfinances/september2024</span></a></p><p>Meanwhile in Aotearoa;</p><p>"Net core Crown debt is currently 44 per cent of GDP - around the same as it was in the mid-1990s."</p><p><a href="https://budget.govt.nz/budget/2024/bps/fiscal-strategy-debt.htm" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">budget.govt.nz/budget/2024/bps</span><span class="invisible">/fiscal-strategy-debt.htm</span></a></p><p>... when Bolger's National were in government, selling public infrastructure.</p><p>Sooo ... why are NatACT First freaking out about public debt?</p><p><a href="https://mastodon.nzoss.nz/tags/NZPolitics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>NZPolitics</span></a> <a href="https://mastodon.nzoss.nz/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a></p>
𝚛𝚊𝚝<p>.. <a href="https://social.sdf.org/tags/compromise" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>compromise</span></a> <a href="https://social.sdf.org/tags/kompromat" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>kompromat</span></a> <a href="https://social.sdf.org/tags/weareallcompromised" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>weareallcompromised</span></a> <a href="https://www.youtube.com/watch?v=Go5xuokhnQY" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://www.</span><span class="ellipsis">youtube.com/watch?v=Go5xuokhnQ</span><span class="invisible">Y</span></a> <a href="https://social.sdf.org/tags/oligarchy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>oligarchy</span></a> <a href="https://social.sdf.org/tags/corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>corruption</span></a> <a href="https://social.sdf.org/tags/zuckerberg" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>zuckerberg</span></a> <a href="https://social.sdf.org/tags/bezos" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>bezos</span></a> <a href="https://social.sdf.org/tags/authoritarianism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>authoritarianism</span></a> <a href="https://social.sdf.org/tags/loans" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>loans</span></a> <a href="https://social.sdf.org/tags/constitution" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>constitution</span></a> <a href="https://social.sdf.org/tags/congress" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>congress</span></a> <a href="https://social.sdf.org/tags/purse" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>purse</span></a> <a href="https://social.sdf.org/tags/power" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>power</span></a> <a href="https://social.sdf.org/tags/homeless" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>homeless</span></a> <a href="https://social.sdf.org/tags/veterans" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>veterans</span></a> <a href="https://social.sdf.org/tags/union" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>union</span></a> <a href="https://social.sdf.org/tags/rights" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>rights</span></a> <a href="https://social.sdf.org/tags/amazon" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>amazon</span></a> <a href="https://social.sdf.org/tags/twitter" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>twitter</span></a> <a href="https://social.sdf.org/tags/facebook" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>facebook</span></a> <a href="https://social.sdf.org/tags/discrimination" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>discrimination</span></a> <a href="https://social.sdf.org/tags/conservative" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>conservative</span></a> <a href="https://social.sdf.org/tags/moderate" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>moderate</span></a> <a href="https://social.sdf.org/tags/progressive" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>progressive</span></a> <a href="https://social.sdf.org/tags/shhh" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>shhh</span></a> <a href="https://social.sdf.org/tags/speech" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>speech</span></a> <a href="https://social.sdf.org/tags/freespeach" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>freespeach</span></a> <a href="https://social.sdf.org/tags/treasury" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>treasury</span></a> <a href="https://social.sdf.org/tags/usaid" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>usaid</span></a> <a href="https://social.sdf.org/tags/unelected" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>unelected</span></a> <a href="https://social.sdf.org/tags/starving" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>starving</span></a> <a href="https://social.sdf.org/tags/insurrection" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>insurrection</span></a> <a href="https://social.sdf.org/tags/ios" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>ios</span></a> <a href="https://social.sdf.org/tags/police" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>police</span></a> <a href="https://social.sdf.org/tags/enforcement" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>enforcement</span></a> <a href="https://social.sdf.org/tags/lawenforcement" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>lawenforcement</span></a> <a href="https://social.sdf.org/tags/cryptocurrency" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>cryptocurrency</span></a> <a href="https://social.sdf.org/tags/bribery" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>bribery</span></a> <a href="https://social.sdf.org/tags/selfservitism" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>selfservitism</span></a> <a href="https://social.sdf.org/tags/privateprofit" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>privateprofit</span></a> <a href="https://social.sdf.org/tags/publicdebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>publicdebt</span></a> <a href="https://social.sdf.org/tags/healthcare" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>healthcare</span></a> ..</p>
Europe Says<p><a href="https://www.europesays.com/1769059/" rel="nofollow noopener noreferrer" target="_blank"><span class="invisible">https://www.</span><span class="">europesays.com/1769059/</span><span class="invisible"></span></a> Italy’s public debt tops 3 trillion euros, highest on record <a href="https://pubeurope.com/tags/BankOfItaly" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>BankOfItaly</span></a> <a href="https://pubeurope.com/tags/italy" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>italy</span></a> <a href="https://pubeurope.com/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a></p>
Emeritus Prof Christopher May<p>While a lot of the discussion in the UK press about the rising yield (falling price) of Gilts (Govt. debt) is focussed on the impact on Labour's fiscal plans, its worth being clear that that this is not entirely market traders judgement on those fiscal plans, but rather reflects (also) a wider shift in the yield on public debt across the world.</p><p>In other words, while there are UK-only factors at play, it is myopic to think they are the *oinly* factors here</p><p><a href="https://zirk.us/tags/PublicDebt" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#<span>PublicDebt</span></a> <br><a href="https://theconversation.com/uk-borrowing-costs-have-hit-their-highest-level-since-the-banking-crisis-an-economist-explains-whats-happening-247122" rel="nofollow noopener noreferrer" translate="no" target="_blank"><span class="invisible">https://</span><span class="ellipsis">theconversation.com/uk-borrowi</span><span class="invisible">ng-costs-have-hit-their-highest-level-since-the-banking-crisis-an-economist-explains-whats-happening-247122</span></a></p>