[cylinder]

Spain has govt debt of 100% of GDP too.

Flying between Melbourne and Sydney is incredibly easy and will only get easier when the western Sydney airport opens. There's nothing and nobody between the two cities worth putting stops at.

[the_why_of_y]

How is a government debt that was mainly caused by a residential housing bubble being popped in 2007/2008 relevant here?

Edit: https://fred.stlouisfed.org/series/GGGDTAESA188N