MIKE DOLAN: Fiscal retrenchment unlikely in this election year
The uncomfortable question of debt sustainability is top of mind again for many in financial markets
16 May 2024 - 05:00
London — Big public debts typically stem from big economic and political junctures that require the government to spend big — but reining them back risks “creative” solutions that markets may struggle to price.
The cumulative cost of post-pandemic public spending amid new geopolitical realities — including anything from green energy investment, chip-making security or Ukraine-related defence bills for example — are now getting plotted into years ahead of outsize government deficits and debt projections...
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