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Moody’s warns of ‘social unrest’ as sovereign debt spirals

Posted By admin On December 16, 2009 @ 9:53 am In Money Watch | Comments Disabled

Edmund Conway
London Telegraph [1]
Wednesday, December 16, 2009

Britain and other countries with fast-rising government debts must steel themselves for a year in which “social and political cohesiveness” is tested, Moody’s warned.

In a sombre report on the outlook for next year, the credit rating agency raised the prospect that future tax rises and spending cuts could trigger social unrest in a range of countries from the developing to the developed world.

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Moody’s warns of social unrest’ as sovereign debt spirals 251109banner [2]

It said that in the coming years, evidence of social unrest and public tension may become just as important signs of whether a country will be able to adapt as traditional economic metrics. Signalling that a fiscal crisis remains a possibility for a leading economy, it said that 2010 would be a “tumultuous year for sovereign debt issuers”.

It added that the sheer quantity of debt to be raised by Britain and other leading nations would increase the risk of investor fright.

Full story here. [1]


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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/finance/economics/6819470/Moodys-warns-of-social-unrest-as-sovereign-debt-spirals.html

[2] Image: http://www.efoodsdirect.com/holidaySpecial.html?aid=14&adid=14

[3] Britain at risk of serious social unrest, report warns: http://www.prisonplanet.com/britain-at-risk-of-serious-social-unrest-report-warns.html

[4] Global employment crisis will stir social unrest, warns UN agency: http://www.prisonplanet.com/global-employment-crisis-will-stir-social-unrest-warns-un-agency.html

[5] UN Warns Of Sharp Increase In Social Unrest: http://www.prisonplanet.com/un-warns-of-sharp-increase-in-social-unrest.html

[6] Financial crisis could trigger social unrest, warns UN chief: http://www.prisonplanet.com/financial-crisis-could-trigger-social-unrest-warns-un-chief.html

[7] Moody’s credit ratings agency warns Greek debt crisis could spread to UK after three die in battle of Athens: http://www.prisonplanet.com/moodys-credit-ratings-agency-warns-greek-debt-crisis-could-spread-to-uk-after-three-die-in-battle-of-athens.html

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