There is a lot of debt out there, but who owns it?
Deutsche Bank economist Torsten Slok just circulated an email with the following chart, showing which entities are owed money by some of the world’s major economies.
Here are the key points that Slok highlighted in his email:
- Foreign central banks hold a very small share of Japanese and Italian government bonds.
- Of Greece, Portugal, and Ireland foreign nonbanks hold the biggest share of Irish government debt.
- In Italy and Spain domestic banks hold a significant share of their own government debt.
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