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Mr. Steuerman himself was facing increasing debt.
Big oil producers are the same, he says: they pay their dividends by increasing debt.
They may not be repayable until 2037 but they represent an ever increasing debt burden.
But such redevelopment cannot come at the expense of increasing debt statewide, he said.
Increasing debt levels in the financial sector did not set off alarms before the crisis.
"Such increasing debt burdens are unlikely to prove sustainable," he says.
Similar(6)
Lower growth would mean less tax revenue, larger budget deficits and a more rapidly increasing debt-to-G.D.P. ratio.
Standard & Poor's downgraded Uruguayan sovereign bonds to junk status on Thursday, citing decreasing revenue and increasing debt-service costs as a result of pressure on the Uruguayan peso.
Rather than settling for ever-increasing debt and temporary tax agreements, we need to achieve real and enduring fiscal stability.
Because there is no alternative but to challenge the status quo of ever-increasing debt, shrinking job opportunities and disappearing civil rights.
Still, it could reduce Greece's ever-increasing debt burden.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com