Www.treasury.gov/initiatives/Documents/DLDeMint062811.pdf. Spending Review. Eurozone debt web: Who owes what to whom? The circle below shows the gross external, or foreign, debt of some of the main players in the eurozone as well as other big world economies.
The arrows show how much money is owed by each country to banks in other nations. The arrows point from the debtor to the creditor and are proportional to the money owed as of the end of June 2011. The colours attributed to countries are a rough guide to how much trouble each economy is in. Click on a country name to see who they owe Europe is struggling to find a way out of the eurozone crisis amid mounting debts, stalling growth and widespread market jitters. But, with global financial systems so interconnected, this is not just a eurozone problem and the repercussions extend beyond its borders.
While lending between nations presents little problem during boom years, when a country can no longer handle its debts, those overseas banks and financial institutions that lent it money are exposed to losses. GDP: €1.8 tn Foreign debt: €4.2 tn. 'Europe is poor so should live within its means' 7 February 2012Last updated at 17:48 By Justin Rowlatt Presenter, Business Daily, BBC World Service For decades the West has lectured the East on how to manage its economies.
Not any more. Now the emerging economies of Asia look like models of steady, consistent policy and sustained growth while Europe, America and Japan are mired in debt and are growing achingly slowly, if at all. So what can the West learn from the East? According to former Malaysian Prime Minister Mahathir Mohamad, the message is simple but devastating: Europe must face up to the new economic reality. "Europe... has lost a lot of money and therefore you must be poor now relative to the past," he reasons in an interview with BBC World Service's Business Daily. "And in Asia we live within our means. State of denial Dr Mahathir is well qualified to pass judgement. If any Asian leader can make claim to having laid the groundwork for his country's economic expansion, it is he. "And you can't remedy that by printing money. Pay now, or trust in the future.
16 February 2012Last updated at 09:06 The oil issue is a well-worn theme for the Scottish National Party If you put aside a pound a year, and invest it, after 20 years, you could have £30.
Multiply by a billion, and you've got the latest piece of Alex Salmond's vision for an independent Scotland. It's simple, and an example of how you could use surplus tax revenue from, say, oil. Plus, it's a return to a once well-worn theme for the Scottish government, set out once again by the first minister on Wednesday in London.
As David Cameron prepared to head to Scotland to set out his positive vision for the United Kingdom remaining united, Alex Salmond was citing the example of Norway. It used its oil funds to pay down debt to zero, and it's spent more 20 years building up a giant nest egg - or more like a golden goose that keeps on laying. Oiling the wheels So it's not just Scotland that could have had a Norwegian-style fund if it had the powers and the foresight to build one up from the 1980s.