Sovereign
in sentence
1399 examples of Sovereign in a sentence
The interest rates on the euro-denominated
sovereign
debt of the twelve euro-zone governments are all very similar.
The ECB’s treatment of all such debt as equally powerful sources of back-up liquidity now trumps any analysis of differences in long-term
sovereign
risk.
The UN is comprised of
sovereign
states, but it is not
sovereign
itself and cannot act as if it were.
Be it because of a
sovereign
default or because of large losses accumulated under complacent accounting rules, the insolvency of a large bank (particularly a European bank) is far from a remote possibility.
What makes this possibility the financial nightmare of choice, worse than the collapse of Lehman Brothers in 2008, is the fear that many
sovereign
states have already shot all their bullets and would thus be powerless to intervene.
Credit default swaps (CDS) of major southern European banks trade slightly lower than the CDS of their
sovereign
states, indicating that the market does not perceive the latter as able to support the former.
More importantly, through its numerous rescues of
sovereign
states, the IMF has acquired expertise in debt restructuring, while developing a reputation for toughness and impartiality, which would be very useful in these situations.
First, it makes certain that the cost (if the losses exceed the combined value of equity and long-term debt) is shared by the international community and not only by the country where the institution is located, making the intervention credible even when the
sovereign
state is not.
Sovereign
debt no longer looks stable.
A substantial immediate haircut on the
sovereign
debt of the vulnerable eurozone countries would be so destructive that it would set off a new round of bank panics.
A mechanism for dealing in an orderly way with
sovereign
bankruptcy would be a major contribution to global governance, and to solving a longstanding problem of sovereign-debt markets.
Such proposals were widely discussed in the 1990’s and early 2000’s, and IMF Deputy Managing Director Anne Krueger pushed a
Sovereign
Debt Restructuring Mechanism that would have offered a legal path to imposing general haircuts on creditors, thereby ending the collective-action problems that impede the efficient resolution of
sovereign
bankruptcy.
If Europe could show – in the worst possible scenario of
sovereign
default – how such a process might operate, uncertainty would be reduced and markets would be reassured.
But the world is divided into
sovereign
states, not individuals, and there is no way to assess each individual’s greenhouse-gas emissions.
Suddenly, the world will have acquired, without the need for subscribed capital, a global
sovereign
wealth fund.
In a world of
sovereign
states, is it hypocritical for some to have nuclear weapons and deny them to others?
Given the dangers that increased risks imply for everyone, there is a strong moral case for a policy of stopping further proliferation rather than arguing that Iran or North Korea have a right to do whatever they wish as
sovereign
states.
Sure, there was no such thing as a eurozone
sovereign
security.
No matter that the public debt of the average US state is less than 0.5% of total US GDP, compared to 5% in the eurozone, which implies that the financial impact of a eurozone
sovereign
default would be much stronger.
For example, changes in financial markets (including the large amounts of money in
sovereign
wealth funds and public pension funds) provide opportunities for new development partnerships, which the New Development Bank can help to catalyze and orchestrate.
The US does not have a national interest in helping Taiwan become a
sovereign
country with a seat at the UN, and efforts by some Taiwanese to do so present the greatest danger of a miscalculation that could create enmity between the US and China.
Negotiations between Greece and the banks over Greek
sovereign
debt may yet be concluded, but sufficiently wide participation by banks in the deal remains very much in doubt.
There will be no more surrendering of
sovereign
Ukrainian territory.
Ukraine is a fully
sovereign
state, recognized as such by the world, including Russia.
Moreover, one would be hard pressed to identify any meaningful hit to the US from the decision by another major agency, Standard & Poor’s, to downgrade America’s
sovereign
rating in August 2011.
Financial markets’ sudden reappraisal of
sovereign
risk has now put euro-area governments under considerable pressure to reduce their deficits.
Sovereign
debts have been restructured hundreds, perhaps thousands, of times – including for Germany.
All that was required was a mere statement by ECB President Mario Draghi and its Governing Council that it would do “whatever it takes” to buy eurozone members’
sovereign
debt, conditional on their fulfillment of stringent fiscal conditions.
Whereas the European Union is 28
sovereign
countries with one common market, the Indian Union is one
sovereign
country with 29 separate markets.
The wave of reform has become visible everywhere – from tough new regulations in Japan to
sovereign
wealth funds like Norway’s Norges Bank Investment Management taking a more active approach to their investments – and it is certain to continue to rise.
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