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Headline: A body politic bleeds to death Source: Euromoney Date: February 2001 Author: Kevin Rafferty Japan’s government debt is frighteningly large – larger by far than any other country’s has ever been. Some Japanese economists contend that because the overwhelming bulk of it is held domestically there is no fundamental problem. Yet others, and most outside observers, reckon indebtedness cannot be overcome by growth or fiscal means and is a threat to worldwide stability. “Japan is like a man who has settled in a warm bath with a bottle of vodka and has cut his wrists. |
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