By Anon
Note that government debt has been rising in the USA and UK.
“Investor fears that the bloated sovereign (government) debt market is beginning to pose risks to the world economy.”
The debt of cities, local authorities and state companies is ‘backed by the government’.
State companies include: Mexican state-controlled oil company Pemex, government-backed Export Credit Bank of Turkey, the city of Paris, Sri Lankan Airlines and Germany’s development bank KfW.