Citigroup Says No Government Debt ‘Completely Safe’

Bonds issued by developed countries, including those with the highest credit ratings such as Germany and the U.S., are not “completely safe” as demand for public spending is growing faster than revenue, Citigroup Inc. said.

Greece is the country most at risk of default, followed by Ireland, Portugal and Spain, the bank said. The U.S. may also face repayment challenges “at horizons longer than five years.”