The worst of the world financial crisis since 2007 may have passed, but the global economy in 2010 is increasingly wary of high levels of government borrowing. In some cases, such as Greece and Dubai, emergency action was needed to avoid governments defaulting on loan repayments while sovereign risk remains a serious concern in many countries.
Resulting government austerity measures from 2010 will affect consumers and businesses, most directly in advanced economies but with knock-on effects.
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