When Sovereigns Go Bankrupt

Caution - Bankruptcy Ahead

This article summarizes the book “When Sovereigns Go Bankrupt” (Gaillard 2014), which provides a fresh analysis of how to cope with sovereign risk in the context of a rising likelihood Continue Reading →

How Moody’s has drawn the lessons from the Eurozone debt crisis

wr_blog_article_gaillard_2014-09-11_table1

Credit rating agencies have historically failed to anticipate the public debt crises in rich countries. This Wikirating blog article describes how Moody’s sovereign rating methodology has been modified in the Continue Reading →

Eurozone, Sovereign Ratings and Bond Yields

_wr_blog_article_gaillard_2014-05-05_figure1

This column explains how and why sovereign ratings and bond yields failed to anticipate the Eurozone debt crisis. It also argues that, paradoxically, sovereign ratings are now valuable risk indicators Continue Reading →

Is the Eurozone Debt Crisis Over? The View from Moody’s

Table 1

Regulation (EU) no. 462/2013 of the European Parliament and of the Council of 21 May 2013 requires credit rating agencies to publish a calendar of their sovereign and subsovereign rating Continue Reading →