Bonds: Has the debt become too big?

The power of the global bond market seems to have grown in recent years, to the extent that it can now dictate government policy and even topple political leaders. How much clout do the debt markets actually have and should they be reined in? Many rich nations are more indebted than they have ever been in modern times, meaning that some are spending more simply on servicing their debt than on schools, hospitals or military defence. In the second of two programmes on the bond market, we ask, how sustainable is that debt and should we be worried about it? If you'd like to get in touch with the programme, our email address is [email protected]: Ed Butler Producer: Gideon Long(Photo: A view of financial buildings in the City of London. Credit: Getty Images)