- 15 Dec 2009 20:36
#13267757
It's the deficits that matter, a country needs to find a ways to short-term finance them in structurally sound way. A country as Italy has a way higher debt/gdp ratio but that was reached over decades and is partly being paid off in the long-term and thus not in dire need of a scramble for short-term refinancing, contrary to countries recently running up huge deficits.