Tuesday, July 19, 2011

The U.S.' Debt: Worse Than Eurozone 17; Yet No Downgrade From Agencies

Interesting that the credit rating agencies 'dilapidated; the ratings of countries like Portugal and Greece but have not touched theUnited States, except by making recent threats.

However, the 17 nations that share the European currency together have a debt that 25% lower than the United States.

An important factor is that the U.S. a union of 50 states. The government that issues the currency and borrows money is the same as that is responsible for the balancing (or not) of public accounts. The Euro zone is a set of 17 countries that share the same currency, but each one balances or unbalances accounts independently.

Source: O Estado de Sao Paulo

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