2011 in review | Debt dominated business headlines

Debt dominated business headlines in 2011 as U.S. politicians bickered over deficit reduction, earning the country an unprecedented ratings downgrade, and years of European borrowing turned the public purse into a public curse. In Europe, even as the global recovery struggled for traction, governments cut spending, laid off public servants and raised taxes, often in return for international bailouts made necessary by the high cost of borrowing from banks

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2011 in review | Debt dominated business headlines