They could contrast their high growth rates with Europe s high levels of debt.

Private and public debt levels are high and possibly unsustainable.

Faced with high inflation, Thatcher backed a monetarist approach that supported high interest rates and succeeded in sharply reducing inflation.

But domestic savings remain low in the face of persistently high levels of public debt.

High levels of sovereign debt, together with the behavior of parts of the financial sector, have amplified the crisis in the eurozone and raised important issues of confidence that now require a systemic answer.

Worse still, high levels of public debt, like high taxes, cause serious problems for economic performance.

Most Americans are, after all, preoccupied with the US economy s sluggish growth and persistent high unemployment.

Many African countries have used the past decade to put in place sound and sustainable economic policies that have delivered robust growth and low inflation. Together with debt relief, these policies have resulted in low levels of public debt, relatively sound financial systems, and most important rising living standards.

And large deficits and high debt levels decrease the prospects for a long boom.

The Committee noted that a number of higher and middle income countries benefited from the debt burden adjustment.

The country is also burdened with high levels of debt and limited resources.

Fiscal deficits must be cut to reduce debt levels.

That is why countries build up debt levels that put them in the danger zone.

That measure would avoid frequent rescheduling and would reduce the debt stock to sustainable levels.

In Europe, officials are also turning to stealth taxes, particularly financial repression, to resolve high public debt overhangs.

Hence the impasse, with the eurozone becoming mired in a vicious circle of high debt and economic austerity.

This is less radical than the method adopted by Argentina, where high levels of inflation are both a historical nightmare and a current challenge.

The risk, therefore, is that product markets will tighten while there is still high measured unemployment.

In order to sustain high performance levels, sufficient time and resources must be secured on a more permanent basis.

The main reason for the lag is not simply low demand or large debts.

In Europe, the market for Greek debt has frozen, and interest rate spreads between Irish and German euro denominated debt recently reached alarming levels.

And storm surges now ride on these elevated sea levels, amplifying flooding losses where they strike.

At the regional level efforts were under way to try to reduce the differences in the levels of development between the lowland and highland areas of the country.

The average high debt episodes since 1800 last 23 years and are associated with a growth rate more than one percentage point below the rate typical for periods of lower debt levels.

This means extending the maturity dates of debts and reducing the interest rate on the new debt to levels much lower than currently unsustainable market rates.

Currently, they are wrestling with widening sovereign debt problems and high unemployment.

Moldova is deeply in debt, unemployment is high, and its once well regarded wine industry is in decline.

These developments, together with the costly war against Yohannes IV of Ethiopia, left Egypt in deepdebt to the European powers.

Higher prices fuel higher growth in these countries, which, accompanied by a population boom, leads to higher domestic energy consumption.

The stock imbalances include large and rising public and private debt as a share of GDP.

A long term alternative requires some capacity to write down debt where it has reached excessive levels.

Five years on, public, private, and external debt are at record levels in many countries.

In Brazil, the consequences of those crises were an inflationary spiral and an increase in foreign debt to stratospheric levels.

For some, reducing debt burdens to sustainable levels looks increasingly difficult within existing official debt reduction schemes.

There is a second difficulty in the international strategy, however, that is becoming increasingly salient as the international community arranges for ever deeper cuts in the levels of debt and debt servicing.

A combination of these and other measures would help Europe to sustain its high living standards in the coming decades.

In many countries, higher levels of unemployment than in the past have been accompanied by significant declines in real wages among those who are employed.

Until November, Nicaragua was on the way to developing a healthy electoral tradition, backed by high levels of participation.

Only through the provision of adequate resources can population growth levels be lowered from the higher to the lower projected figures of the United Nations.

Until recently, the bond markets treated all euro sovereign debts as virtually equal, not raising interest rates on high debt countries until the possibility of default became clear.

Such profligacy has led to levels of debt that will become unsustainable if we do not act.

Progress during the preceding two and a half decades had been small, as debt levels had failed to decrease significantly.

We are as capable as before of affording for everyone a high standard of life high, I mean, compared with, say, 20 years ago and will soon learn to afford a standard higher still.

Rising spreads in Spain and Italy show that contagion is already occurring, even in the absence of an official decision to write down Greek debt.

The metallic supports underneath the existing elevated floor have come apart and the elevated cables have been cut.