Digging out of debt

This article discusses the road ahead of most countries.Historically, recessions are followed by periods of deleveraging. This period differs from country to country because not all leverage is in the same place in every economy.In most economies private debt has dropped but government debt has risen, and once private deleveraging is "done" the public sector must cut back. However, according to the research firm collecting all this data, deleveraging has just begun. The firm believes this period of deleveraging will be worse than those in the past because data collected for their sample included Britain as having the highest debt ratio with almost 300%. Currently half the richest countries in the sample have more than 300% of GDP as debt. The article concludes saying that the worst part of deleveraging lies ahead.