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For a time, Mr. Geithner's name was reviled by some Europeans, especially Germans, as someone handing out advice while letting the American debt balloon far beyond European levels.
And unless our economic policies change, that debt balloon, powered by radical income inequality, is going to become the next bust.
"Or they can do what they used to do," he said, which is to cut taxes "and then forget about cutting spending and let the debt balloon".
But the crisis has shone the spotlight on mismanagement by Catalonia's own politicians, which helped its debt balloon to €42 billion of the €140 billion debt of Spain's 17 regional governments.
But the cost of the takeover, coupled with low oil prices, has seen the company's debt balloon from $26.6bn last year to nearly $79bn, adding to pressure to reduce spending and sell assets.
Although he conceded that the Greek state had "significant dysfunctionalities and a need for deep structural changes," he did not offer specifics beyond faulting the Socialists and center-right New Democracy for building up a jobs-for-votes system that helped Greece's public debt balloon.
Similar(50)
In both cases, debt ballooned.
Housing prices shot up and debt ballooned.
But just like with Ampad, Dade's debt ballooned.
Instead, it says, he took additional loans, and his debt ballooned.
In the past, when the currency depreciated this debt ballooned, causing further problems.
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