Bloomberg Reports, South Korea's debt decrease a wise move

Discussion in 'Economy' started by xomputer, Sep 30, 2011.

  1. xomputer
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    xomputer BANNED

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    Recently, as credit rating agencies lowered the credit ratings for USA's 3 major banks, Greece, and Italy, the whole world's credit market and international currency market are in peril.
    In the midst of all this, Bloomberg's new article was remarkable...

    Article's content :
    As south Korea's government released their plan for 2012 budget, they stated that the new budget was planned in order to reduce the amount of debt created for next year considering the financial crisis going on in Europe.
    They also stated that other nations in Asia should follow.
    Bloomberg praised South Korean government's effort, stating that South Korea is capable of overcoming any international financial crisis no matter how big it is, and South Korea is preparing for a possible crisis beforehand unlike the U.S or Greek policy makers.
     
    Last edited: Sep 30, 2011
  2. editec
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    editec Mr. Forgot-it-All

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    Wait...are they reducing their debt or are they reducing the amount of other nations debt instruments they have?

    I ask because they speak of the European debt crises as the reason they are reducing their own debt.

    That really doesn't make sense to me.
     

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