* US dollar tumbles to 5-month lows as risk aversion eases

* Oil rises to 6-month high above $66 on economic outlook

* Global shares surge to 2009 highs on recovery hopes

* Government debt keeps firm tone after vicious week (Adds close of U.S. markets)

By Herbert Lash

NEW YORK, May 29 (Reuters) - The U.S. dollar slumped to a five-month low against major currencies, helping drive oil prices to a fresh six-month high on Friday, as evidence mounted that a worldwide recession may be easing.

Global stocks rose with some markets posting 2009 highs, which eroded the safe-haven allure of dollar-based assets and sent the euro EUR= above $1.41 for the first time this year.

Concern about the expanding amount of debt needed to fund a record $1.8 trillion U.S. budget deficit added to dollar woes this week and put the benchmark 10-year Treasury yield en route to its biggest two-month spike since 2004.

"There's a visceral concern about the debasement of the U.S. currency because the United States has a lot of debt to finance," and may have to print more money to do it, said Alan Ruskin, chief international strategist at RBS Greenwich Capital in Greenwich, Connecticut.