nanarchy on 30 October 2011
You seem confused, the banking system is different to government debt, both have a lot of trouble at the moment, banking for over leveraging through bad debt and idiot politians who keep spending more than the government earns. I doubt the banking system will collapse, plenty of countries have stable solid banking systems, usually because they are regulated, I would imagine over the next 5-10 years we will see a reversal of the deregulation that has taken place over the last 2 decades. As for government debt, well what happens there is anyones guess, defaulting is generally not a good option for any government, at least any government that wants to continue to have its citizens prosper.
