Debt crisis: a $46 trillion problem comes sweeping in
Bad stuff, they say, comes in threes. We've already got the banking and the eurozone sovereign debt crises. Next comes the corporate funding crisis
Jeremy Warner
Just as you thought things couldn't get any worse, credit markets are about to be hit by a veritable tsunami of maturing corporate debt. Standard & Poor's estimates that companies in Europe, the US and the major Asian economies require a combination of refinancing and new money to fund growth over the next four years of between $43 trillion and $46 trillion. The wall of maturing debt is unprecedented, raising the prospect of further, extreme difficulties in credit markets.
More
Comment: So we're only at the prelude stage of the opera. When the fat lady has finally sung, the world will be different from what we know.
No comments:
Post a Comment