Autos drive by the US Treasury Constructing in Washington, DC on November 15, 2011.Karen Bleier | AFP | Getty ImagesU.S. authorities are spending a lot that European debt will grow to be extra interesting to buyers, an economist advised CNBC Monday.U.S. bonds — debt issued by the U.S. Treasury to fund authorities actions — are historically perceived as a protected asset. Which means that those that purchase U.S. authorities bonds can have secure returns sooner or later — even when these are usually not very excessive — and buyers belief the U.S. authorities pays that debt again.Nevertheless, that would change as soon as the coronavirus pandemic is over.”Debt within the U.S., public debt, is surging a lot, way more than what we see wherever in Europe, so the comparability between shopping for a European bond or a U.S. bond will truly look extra favorable sooner or later,” Holger Schmieding, chief economist at Berenberg, advised CNBC’s Squawk Field Europe. The U.S. Congressional Price range Workplace mentioned in September that public debt is ready to “rise sharply to 98% of GDP in 2020, in comparison with 79% on the finish of 2019.”The expectation is that U.S. debt will probably be above 100% in 2021 and attain 109% of GDP by 2030.Greater public debt ranges may make U.S. bonds much less enticing to buyers given that there’s an elevated danger that the federal government may, in some unspecified time in the future, battle to repay a few of it. Therefore, buyers in search of comparatively risk-free belongings may, in idea, flip their backs on U.S. bonds.Not less than for the foreseeable future, make it the following three, 4 years, there’s little or no danger of a debt disaster in Europe.Holger Schmiedingchief economist at BerenbergEuropean nations are additionally spending extra to take care of the financial shock from Covid-19. The truth is, the European Central Bank warned in May that rising public debt in extremely indebted European nations, comparable to Greece and Italy, may reignite market considerations.Nevertheless, since then, the 27 EU nations have come collectively to approve widespread borrowing by way of the European Fee, the manager arm of the EU. This plan has boosted market confidence that the area may climate the financial shock higher than initially anticipated and will subsequently help the urge for food for European bonds.”On prime of that, we do have the European Central Bank which is holding mainly a lot of the rise in debt and which for a very long time is not going to be promoting any of that so at the least for the foreseeable future, make it the following three, 4 years, there’s little or no danger of a debt disaster in Europe so long as Italy doesn’t do something politically very far,” Schmieding advised CNBC.He’s of the opinion that Italy is the riskiest nation within the EU though Greece has the best public debt pile throughout the EU bloc. It is because the coalition authorities in Rome is seen as comparatively fragile and its collapse may simply set off snap elections.