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BCE

You pay much more by defaulting than by not defaulting.

“People forget to look at what happens when a country defaults, which is something I have been studying for several decades (..) Financial markets make you pay for the default with higher interest rates. They make you pay for the present value of losses, plus a big premium with the uncertainty linked to that. You pay much more by defaulting than by not defaulting.”

Christian Noyer, Parigi, 11 dicembre 2010.

Di johnmaynard

Associate professor of economics of financial intermediaries and stock exchange markets in Urbino University, Faculty of Economics
twitter@profBerti

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