Rising Debt Levels in Developed Nations Spark Fears of a Looming Financial Crisis

Developed economies like the U.S., Italy and Britain have high debt levels, raising fears of a crisis as rates rise and central banks withdraw support.

Spending needs for health, pensions and climate as populations age are adding to debt pressures.

Credible fiscal plans, higher taxes, growth and reforms needed to keep finances sustainable.

Debt sustainability outlook worrisome, risks of policy mistakes leading to nonlinear crisis dynamics.

U.S. political dysfunction, low European growth and high interest costs are main concerns.