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Western Governments Set to Borrow Record Amount

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In the coming year Western governments will struggle to fund their services and debt.

Markets and governments face an uphill struggle to fund themselves next year amid extreme uncertainty over the eurozone and the global economy, as new figures reveal that the borrowing of industrialized governments has surged beyond $10tr this year and is forecast to grow further in 2012.

The Organisation for Economic Co-operation and Development, which represents the leading industrialised nations, will warn in its latest borrowing outlook, due to be published this month, that financial stresses are likely to continue with the “animal spirits” of the markets – their unpredictable nature – a threat to the stability of many governments that need to refinance debt.

http://www.ft.com/cms/s/0/4e0a21fc-2261-11e1-acdc-00144feabdc0.html

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