What's it: Austerity policy is an action by the government to reduce government debt. The government usually adopts it when debt is too high, hence weighing economic performance. High debt tends to be out of control. It is dangerous and
National Debt
Sovereign Debt: Understanding National Borrowing – Indicators, Impacts, Pros, Cons
What's it? Sovereign debt is debt issued or guaranteed by a country's government. In other words, it is debt securities issued by the national government. This is different from municipal debt, where the issuer is the local government.Like other