Sentences with phrase «excessively high levels of debt»
When growth is most needed, when a country is suffering from excessively high levels of debt, it is hard to find many cases in which the aggressive implementation of reforms led to growth rates fast enough for the debtor to grow its way out of debt.
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The same goes for banks when they are funded with excessively high debt levels: Small declines in the value of their assets can quickly render them insolvent.