Sunday, January 2, 2011
FT disaster scenario rated 20% for 2011
The Financial Timesâ€™ last Lex column of the year put a 20 per cent chance rating on another financial disaster in 2011, though it thought muddling through a more realistic prospect at 70 per cent. It is a sign of how sober commentators are about 2011 to see this in the FT. Its disaster scenario saw global bond markets unwilling to finance the US deficit and an existential crisis in the euro zone. Asset prices would plunge to levels not seen since the 2008-9 crisis.