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Is debt essential for economic growth? We look at the economics and morality of debt. Should countries burdened with huge debts be forced to repay them in full? And, if it is fine for an individual to borrow large sums to buy a house, why shouldn鈥檛 governments do the same to finance employment schemes or large infrastructure projects? Owen Bennett Jones and his expert panel are in front of a live audience at the How the Light Gets in Festival in Hay-on-Wye to discuss the problems of debt.

(Photo: Students pull a mock ball and chain representing student debt. Credit: Getty Images)