Morgan Stanley Warns on Sovereign-Debt Crisis

Morgan Stanley (MS) warns in a report Wednesday that the sovereign debt crisis is far from over — and won’t end till deeply indebted rich country governments give holders of their bonds a good soaking. – Fortune

“Governments will impose a loss on some of their stakeholders,” Arnaud Mares in the firm’s London office wrote in a research report today. “The question is not whether they will renege on their promises, but rather upon which of their promises they will renege, and what form this default will take.” The sovereign-debt crisis is global “and it is not over,” he wrote. – Bloomberg

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