by Michael Casey Dec 9/09 "Moody's Investors Service says there's $49.5 trillion of sovereign debt outstanding -- and this week, ratings firms, and some jumpy bond traders, have shone a glaring light on it. "But none of this is new. A month ago, the International Monetary Fund projected that the average debt-to-gross domestic product ratio of the 10 advanced country members of the Group of 20 developing and developed nations would mushroom to 118% by 2014." http://online.wsj.com/article/SB10001424052748704240504574586312453815896.html is, will there be a debt crisis ?