greece defaulted on some of its debts -- it's more about whether that's happened. To my knowledge the UK has never in its history defaulted on its debts, and I'd imagine neither has the US since at least the civil war (but i assume never).
The debts of governments of this type is about the lowest risk investments its possible to make, and they're treated that way.
But that also means severe economic crises in those countries has an outsized impact. If the US debt were to increase 12.5% of GDP YoY for years, the entire global financial system would melt down -- as US debt is basically the baseline of the entire system
The debts of governments of this type is about the lowest risk investments its possible to make, and they're treated that way.
But that also means severe economic crises in those countries has an outsized impact. If the US debt were to increase 12.5% of GDP YoY for years, the entire global financial system would melt down -- as US debt is basically the baseline of the entire system