Greek and Icelandic debts

Available for over a year

Iceland's huge debts have ignited public anger there. Business Daily's Steve Evans reports from Reykjavik on the level of resentment. Meanwhile, there's a tide of red ink in Greece's government finances. Speculators, such as hedge funds, have been making giant financial bets against Greek government debt, and against the Euro. British hedge fund manager Hugh Hendry from Eclectica Asset Management explains the situation. It's not only Greece whose public finances are coming under scrutiny. The biggest bond investor in the world is looking critically at the sprawling government debt of some of our most powerful economies, including the UK. Mohamed El-Erian is its boss - the chief executive of PIMCO, the Pacific Investment Management Company, a global group based in the US, which manages investments worth more than a trillion dollars. You might call it the Tumbleweed moment - when dead weeds roll across the dusty deserted streets of the city which has just finished hosting a global sports tournament. But what exactly is left to benefit the city that provided all that fun? Going on previous form, not much, argues our Business of Sport commentator David Goldblatt.