Is it important to know who owns debt ?
The question stirred many analysts. It is true that having a majority government debt held abroad may ask questions of sovereignty - a day the state may face pressures and duty concessions to continue to place its debt. It also already, and not necessarily in the wrong direction to place its public debt, France was forced to demonstrate a minimum of coherence in the management of its deficits ...
Should we be worried to see our debt held by foreign creditors? If you enter this logic, we must also look at who owns our shares, the factories that make our products or oil in our cars ... So many factors dependence-vis other countries. Economics is also heavily on the idea that the disadvantages of mutual dependence are lower than its profits, even after taken into account transaction costs.
If we put this idea because it must be done globally. And it is likely that we see as external dependence with regard to the oil poses problems that the debt: indeed, a state may still raise public debt by mobilizing the savings of its citizens or even repudiate its debt. It is difficult to do the same for oil consumption!
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