"A report by the UN Environment Programme’s Finance Initiative (UNEP FI) says loss of soils, forests, and fisheries, as well as rising resource costs, are likely to become increasingly important to a nation’s economic health – and may therefore affect its ability to repay or refinance sovereign debt." (Source: BusinessGreen)
This excellent report produced with the help of Global Footprint Network makes the link between the world’s financial debt crisis and the global ecological debt crisis. The debate on austerity gets a completely different dimension if you look at this double challenge.
Read the UNEP press release: “Risks to Sovereign Bonds Posed by Overuse of Natural Resources Need Greater Attention” and the full report .