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Joseph Wang & William White: Mammoth Interest Rate Hikes Are Causing Trouble In Sovereign Debt
Forward Guidance
The Path of Least Resistance
Restructuring is one way to grow about that. But as Bill mentioned, we don't seem to have the mechanisms to do that at a very large scale yet. And also, I think it's very politically difficult. The path least resistance seems to be just hiking interest rates and keeping interest rates to a sufficiently high level. So this would sort of happen by itself or I don't know if Bill is imagining more extreme measures, Joseph.
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