Western governments are even more indebted than you might think

The way governments account for their finances means we aren't getting a true picture of the scale of public debt, says Matthew Partridge.

We've heard a lot in recent years about the large levels of public debt harboured by many nations around the world. The fight between Brussels and Madrid over the rescue of Spain's banks shows that to get the true picture, you sometimes need to consider private debt too, especially if it is in reality backed by the state.

However, some experts fear that the problem of public sector debt goes even deeper than this. More to the point, they also believe that this problem isn't just limited to countries like Greece and Spain.

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Dr Matthew Partridge
Shares editor, MoneyWeek

Matthew graduated from the University of Durham in 2004; he then gained an MSc, followed by a PhD at the London School of Economics.

He has previously written for a wide range of publications, including the Guardian and the Economist, and also helped to run a newsletter on terrorism. He has spent time at Lehman Brothers, Citigroup and the consultancy Lombard Street Research.

Matthew is the author of Superinvestors: Lessons from the greatest investors in history, published by Harriman House, which has been translated into several languages. His second book, Investing Explained: The Accessible Guide to Building an Investment Portfolio, is published by Kogan Page.

As senior writer, he writes the shares and politics & economics pages, as well as weekly Blowing It and Great Frauds in History columns He also writes a fortnightly reviews page and trading tips, as well as regular cover stories and multi-page investment focus features.

Follow Matthew on Twitter: @DrMatthewPartri