Governments must ‘earn’ quasi-risk-free status: BIS’s Hannoun

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Hervé Hannoun, deputy general manager at the Bank for International Settlements, on Wednesday warned against attempts to suppress adverse indications of sovereign risk, and that authorities would ultimately need to earn their quasi-risk-free status by gradually reducing their debts.

At the Financial Stability Institute High-Level Meeting in Abu Dhabi, United Arab Emirates, Hannoun said: "The sovereign debt crisis has revealed the full implications of lax fiscal policies in a number of advanced

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