Is Sovereign Default “Unnecessary, Undesirable and Unlikely” For All Advanced Economies?

- "We conclude there is no such thing as completely safe sovereign debt."
- "Sovereign default in the advanced economies is not a ‘can’t pay’ issue but a collective ‘won’t pay’ issue."
- "The cost-benefit analysis of sovereign default may favour default for the most highly indebted countries."
- "The political economy of fiscal burden sharing may demand that sovereign creditors share the pain with tax payers and beneficiaries of public spending."
- "Greece is the Euro Area member state most at risk of sovereign default."
- "Ireland may not be able to make whole both its sovereign debt holders and the unsecured creditors of its banks."


No comments:

Post a Comment