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An overhang of debt, inherited from the past, should not prevent economic development in the future.
But, he added, "the overhang of debt really is the major problem for policy makers".
If, by that, he meant the overhang of debt, that's very much the case.
A growing overhang of debt will only make it harder for the market to recover.
The underlying imbalances in the global economy have been left untouched; the overhang of debt from the boom years remains.
We are still dealing with a significant overhang of debt and the situation in the Eurozone is still very difficult".
Similar(17)
As South Korea struggles to realign its economy and cope with huge overhangs of debt, it has run into mounting resistance from unions whose members' jobs are threatened by cost-cutting.
The big drag on the economy now is the overhang of household debt, largely created by the $5.6 trillion in mortgage debt that households took on during the bubble years.
But the overhang there is an overhang of personal debt on working people that is substantial.
Tens of millions of Americans are being crushed by the overhang of mortgage debt.
It is, instead, the overhang of household debt combined with paralysis in the housing market.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com