The world’s approach to sovereign debt needs to change - Financial Times
The world’s approach to sovereign debt needs to change - Financial Times
Source: Financial Times
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DW NOTE
The FT discovers that lending money to governments that can print it, default on it, or simply refuse to pay produces suboptimal outcomes for creditors. The world's approach doesn't need to change — sovereign debt needs to stop pretending it's an asset class and start pricing like the political promise it actually is.