The World still in Recession Mode

The fall-out from the 2008 Great Financial crisis continues to make big ripple effects in countries away from the eye of the storm.  Over-leveraged countries and/or companies are now feeling the heat and have to undergo restructuring of their debt and financial reforms under duress. The Dubai World, a government-supported company and owner of the Nakheel project, is but just a new incident in the aftermath of the 2008 Great Recession.  Greece's sovereign debt is also increasingly at risk.  But if one looks at ever widening public deficits and increasing debt to GDP, going towards 2014, one could add in this list of countries under possible financial distress, Hungary, Latvia, Bulgaria but also France, Japan, Italy, Portugal, Spain, the UK and the USA, by Marwan Elkhoury, (Read this story here)

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