Countries are Sharks

What people don’t get about sovereign debt is that countries are sharks when it comes to debt and default. That is the real lesson of research and writing and history in this area – that countries have been messing around, defaulting and restructuring in debt markets for hundreds and hundreds of years. Defaults, busted banks and the like is what happens when you lend to countries that have much more experience and cynicism about their use of debt than you think they do.

Related posts:

  1. U.S. Banks Riskier Than Third-World Countries
  2. Pension Problems: Most Equity-Happy Countries in World
  3. The Big Bill: Debt and Developed Countries
  4. Are Countries Playing Economic Chicken?
  5. Growth in a Time of Debt