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Radek Sikorski, Poland's foreign minister, has observed that Britain's total sovereign, corporate and household debt is several hundred per cent of GDP.
That leaves those also held in the banking books but available for sale, which are worth about a third of the total sovereign debt held by banks.
With stirrings of constitutionalism from 1241 onwards, this development of a national, medieval, kingdom intensified, though by c. 1300 the kingdom had not yet reached the point of total sovereign power.
The stability pact, a central element of the treaty that established the euro zone, commits members to keep fiscal deficits to 3 percent of gross domestic product a year and total sovereign debt under 60 percent of G.D.P.
America's government lobbied European countries to support post-war Iraq, and the Europeans surely saw the deal as a way to mend transatlantic ties.Yet debts held by the Paris Club are only around a third of Iraq's total sovereign obligations.
Of the 340 billion euros in Greek government debt, only about 200 billion euros — most of it owed to banks — falls under the scope of the accord, meaning the country's total sovereign debt would be reduced by about 30 percent at best.
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Today, total Russian sovereign debt is $29 billion.
Today, total Russian sovereign debt stands at $29 billion.
He says that, as a percentage of gross national product, neither the total outstanding sovereign debt of the major Third World borrowers nor their interest and principal payments have been particularly high by historical standards.
"He said the U.S. was concerned about credit default swap contracts being triggered," reported The Irish Times, "although he did not say why". Anyway, back in the Greek crisis, "European banks are long about 17% of the €340 billion of total Greek sovereign debt outstanding," reckons Niels Jensen at Absolute Return Partners.
Although the landmass of the country's breakaway territories is a fraction of the total size of sovereign Ukraine, Moscow has transformed the rebels' ramshackle administrations into regimes that have the semblance of functioning governments.
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