Oct 172010
CNBC reports that Niall Ferguson in an interview believes Europe, Japan and the U.S. will incur sovereign defaults. According to their report:
The explosion of public debt will inevitably lead to either inflation or default …
Ferguson was quoted as saying: “It just depends on whether you borrow in your own currency in which case is probably going to be inflation; or someone else’s, in which case is probably a default.”
You can read the piece and watch the interview here.
