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If a lot of people are highly indebted, that could tip the economy into recession.
"If enough people are highly indebted, that has a big macro-economic impact.
During the past two decades, many of the poorest nations became so highly indebted that now they are unable to make payments on their current loans, let alone borrow and pay back more.
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ReprintsThe two unions behind it, the CGT, which is close to the Communist Party, and the even harder-talking SUD, are protesting against plans to merge two rail companies: the SNCF, which runs the trains, and RFF, the highly indebted firm that manages the tracks.
They include DARS, a highly indebted though profitable company that builds and manages the country's highways.
In the credit markets, crucial stress gauges moved toward recent highs, while rising interest rates on Italian debt underscored investors' growing doubts about that highly indebted country, which has become the new focus of concern in the euro zone.
In the junk-bond market, hes avoiding the highly indebted, low-quality issuers that have soared in the recent rally.
Hotfoot from his job as Canada's central bank boss, he must conjur sustained and strong growth from an economy that remains highly indebted, and is suffering from a lopsided recovery that favours services over manufacturing while the government prefers to hack at public spending with little thought for its long term impact while waiting for something to turn up.
With much less disruption to the economies of highly indebted poor countries that the measure is supposed to help, the IMF could issue a small tranche of SDRs which would have no measurable inflationary impact.While learned economists may prognosticate about how gold is outdated as a store of value, it is indisputably an asset of choice for poor people in developing and developed countries.
National economic success, he said, has come at a cost: "A population that is highly indebted, with high levels of depression and frustration".
"It leaves the weaker members of the euro zone relegated to the status of third world countries that became highly indebted in a foreign currency," he said.
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