Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
Add the fact that except for the UK and Ireland, private debt (and therefore global debt) is much lower than in the US. Also saving rates are around 15% in the Eurozone.

"Dieu se rit des hommes qui se plaignent des conséquences alors qu'ils en chérissent les causes" Jacques-Bénigne Bossuet
by Melanchthon on Tue Sep 29th, 2009 at 08:15:23 AM EST
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