Tuesday, October 14, 2008

G7 have only looked after their own shop – but more SH1T is ready to hit the fan

Emerging nations hit by default fears

Investor fears over the risk of many emerging market countries’ defaulting on their debt has risen sharply as Iceland’s financial collapse has hit sentiment, discouraging funds from investing in these economies. The market is pricing the risk of default for countries such as Pakistan, Argentina, Ukraine and Iceland at 80 per cent or higher as the banking systems of these countries come under increasing pressure due to the credit crisis.

Posted by whostolemyendowment @ 12:25 PM (358 views)
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