Which Governments Owe How Much to Foreign Banks?

Written by Gary North on November 29, 2011

Each nation’s government owes money to foreign banks. The foreign banks are threatened by a default — an “Iceland event.” The biggest debtor is the USA. If our government defaults, the West’s economy collapses. Which nation is most at risk today of foreign governments’ defaulting? France. France is Italy’s biggest creditor. But Italy is close […]

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