"Why take on debt and obligate yourself?
And pay off debt and stop taking on debt.
Antoni Castells, Catalonia's finance minister, described the sale as "a big success," whose focus on local investors should be welcomed because "it's good to reduce our dependency on external debt".
But much of the growth in the past decade has masked a fragility - a dependency on external debt, which, at a moment of crisis can leave a country dangerously exposed to market volatility and the whims of investors.
THE most lively controversy in the British economy at the moment is whether the country is slipping back into its old habits; in particular, dependency on a debt-fuelled property boom.In a splendid piece of research last week, Fathom Consulting pointed out thatThe real estate sector accounts for almost of quarter of all the jobs created in the UK over the year to June.
Since then, Mr. Neal has shrunk GE Capital's balance sheet by about one-fifth and kicked its dependency on short-term corporate debt.
"De Schutter's promotion of agroecological solutions," says Lappé, "is rooted in the understanding that the chemical approach breeds debt and dependency on costly inputs like fertilizer, chemicals or genetically engineered seeds.
"Negatives: Lack of credit history, lack of scale and market liquidity, no lender of last resort from a major central bank, high debt burden, dependency on volatile oil prices, large financial sector".
Slavery to dependency on welfare, addiction, abuse and debt.
