A Nobel to the European Union - just a piccie

Started Oct 12, 2012 | Discussions thread
Cani
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Re: A Nobel to the European Union - just a piccie
In reply to sgoldswo, Oct 13, 2012

sgoldswo wrote:

Sorry can't resist. Cobblers!

It is a bit more than counterparty risk to the extent that the government and courts change the law to the effect that lending and other transactions deemed legal in the past were retrospectively illegal and unenforceable. Generally one only accounts for that kind of risk in the more edgy of emerging markets in Africa, Asia and the middle east...

Right, not strictly speaking.

Still, when you deal with a independent foreign state you can never make sure it will abide by its own laws or commitments, so it's just a question of properly assessing the worst case scenario for transactions that (most likely, I am not familiar with the case as you are) were barely sustainable in a less upbeat environment...

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