Public loans - your money and mine - are now routinely used by indebted governments to pay interest on their private bank debt4.

MMT does point out, however, that debt denominated in a foreign currency certainly is a fiscal risk to governments, since the indebted government cannot create foreign currency.

Draghi said there's "no external savior" for heavily indebted governments in the eurozone debt crisis.

In the third world, some heavily indebted governments have encouraged the rapid development of mining as a means of raising foreign exchange.

He writes on his blog: Why a eurozone solution could be quite expensive for the highly indebted British government.

The merger was encouraged and also funded by the Finnish government, mainly due to the declining population and the indebted government of Rantsila.

The protracted decline of long-term interest rates since the 80's has been a boon for an indebted government.

For Japan, the most indebted government in the developed world, decentralization means lessening a financial burden it can no longer bear.

For it is only by selling more bonds that the eurozone's deeply indebted governments can roll-over their enormous liabilities and keep the show on the road.

The principal findings of the report were that the TVI operation created some jobs in an impoverished area and generated revenues for the indebted national government.