DON’T WORRY ABOUT BREXIT: Global debt a ‘bigger problem’ to world economy than EU vote
THE huge jump in worldwide debts is a bigger problem for the global economy than Brexit, according to a German news channel.
By MONIKA PALLENBERG
Express.co.uk
Wed, Jun 29, 2016
Investors have been urged to start preparing for a crisis that could be triggered by a bursting of the debt bubble.
Worldwide bonds – secured company debts – worth more than £74trillion are circulating, according to Teleboerse.
It’s now been warned that this huge debt will come crashing down if it no longer can be serviced by economic growth or more debt.
It comes amid growing fears for global growth.
There are more signs the US economy is slowing, with forecasts it could tip into recession in 2018.
The brakes are also on world’s second largest economy China.
The only thing that is not known is when this will happen and what will be the trigger, said Teleborse.
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