{"id":237764,"date":"2025-12-17T16:46:09","date_gmt":"2025-12-17T16:46:09","guid":{"rendered":"https:\/\/www.europesays.com\/ie\/237764\/"},"modified":"2025-12-17T16:46:09","modified_gmt":"2025-12-17T16:46:09","slug":"cormac-lucey-on-the-coming-debt-emergency","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/ie\/237764\/","title":{"rendered":"CORMAC LUCEY: On the coming debt emergency"},"content":{"rendered":"<p><strong>Two months ago, the lead story of The Economist<\/strong><strong> concerned \u201cThe Coming Debt Emergency\u201d.<\/strong> Unlike recent debt crises, the coming debt emergency predicted by The Economist will be unusual in that it will afflict developed world economies rather than emerging economies. The London-based magazine queried \u201cHow long can governments live so far beyond their means? Rich-world public debt is already worth 110% of GDP; before the covid-19 pandemic, it had been so high only after the Napoleonic wars.\u201d<\/p>\n<p>As we should know in this country only too well, there can be particular problems with a debt-fuelled economic crisis. If monies have been borrowed to fund the purchase of expensive assets, a financial crisis can feed on itself and make things a lot worse once things go into reverse.\u00a0<\/p>\n<p style=\"text-align: center\">This article is premium content<\/p>\n<p style=\"text-align: center\"><strong>Get unlimited access to Gript<\/strong><\/p>\n<p style=\"text-align: center\">Support Gript and get exclusive content, full archives and an ad-free experience<\/p>\n<p><a class=\"v-btn v-btn--block v-btn--has-bg theme--light v-size--large accent mb-6\" href=\"https:\/\/gript.ie\/membership\" rel=\"nofollow noopener\" target=\"_blank\">Subscribe<\/a><\/p>\n<p style=\"text-align: center\">Already a member? <a href=\"https:\/\/gript.ie\/?memberful_endpoint=auth\" rel=\"nofollow noopener\" target=\"_blank\">Sign in here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Two months ago, the lead story of The Economist concerned \u201cThe Coming Debt Emergency\u201d. Unlike recent debt crises,&hellip;\n","protected":false},"author":2,"featured_media":237765,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[174],"tags":[79,125803,6046,184,179,18,19,17,6793,5569],"class_list":{"0":"post-237764","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-cormac-lucey","10":"tag-debt","11":"tag-economics","12":"tag-economy","13":"tag-eire","14":"tag-ie","15":"tag-ireland","16":"tag-recession","17":"tag-spending"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/115735926234418421","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/237764","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=237764"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/237764\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/237765"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=237764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=237764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=237764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}