Coping with Reliance on Credit Ratings



This blog article summarizes a recent article published in Banking and Financial Services Policy Report. Reference: Norbert J. Gaillard, “Coping with Reliance on Credit Ratings”, Banking and Financial Services Policy Continue Reading →

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


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


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 →