The Telegraph: Worries about the risk of a sovereign state defaulting on its debt, which thrust the eurozone into crisis, will soon encompass the two major economies as well, according to Citigroup economists led by Mr Buiter, who sat on the Bank’s Monetary Policy Committee.The team has published a note forecasting much more strife to come in the wake of Greece and Ireland’s recent bail-outs and eurozone governments’ borrowing costs hitting record highs.
“Despite the recent drama, we believe we have only seen the opening and second act, with the rest of the plot still evolving,” the team wrote. “There is no absolutely safe sovereigns (sic).” Read more at The Telegraph…..
