The Continental Economics Institute Currency Review
Shouldn't one include private debt which in greece is not bad compared to say ireland where they hv govt debt and massive private debt? Same with japan where their net govt debt is half headline, and their pvt debt relatively modest?
Yes, in order to get an overall picture, all types of debt should be included. The picture would change even more so for Italy with its immense private sector moetary wealth (not to speak of the other assets that Italians have).