Political risk on the rise for bondholders

The political will

Seat of power: Growing politicisation of the financial world

Debt burdens the developed world. Much of that debt was originally in private hands, from mortgages in the US and Spain to easy credit in Ireland, although there were also governments whose fiscal deficits yawned dangerously wide, notably the government of Greece.

That public/private distinction has become increasingly blurred since the global financial crisis, thanks to the actions of governments to support or even underwrite their financial sectors, and to prop up other debt-strained sectors of