Richard Koo: The Lamentation of the Sovereigns

Mongol General: Wrong! Conan! What is best in life?
Conan: To crush your enemies, see them driven before you, and to hear the lamentation of their women.
    – Conan the Barbarian (1982)

Good Richard Koo interview from Bloomberg on the perils of bond vigilantes over-eagerly driving sovereigns before them into fiscal austerity and deleveraging: