After the S&P Ratings Agency lowered its outlook on Britain to negative from stable, stoking fears other AAA-rated countries which are running huge debt levels could share a similar fate. Experts tell CNBC that a global government debt crisis is coming.
A Global Sovereign Risk Crisis Looming?
We may have a potential global sovereign risk crisis coming, warns Steve Tse, research manager at BEA Union Investment Management.
UK, US Unlikely to Be Downgraded This Year
"If S&P wants to give these governments an early warning sign, yes it's appropriate," Michael Mewes from JPMorgan Asset Management said, adding it is unlikely that the US and UK's debt ratings will be downgraded in '09 or '10. Duncan Weldon from Senhouse Capital joins the discussion.
Don't Compare US' Debt Situation to the UK's
The UK and the U.S. are in totally and utterly fundamentally different worlds, says Paul Schulte, MD of Nomura International.
The Problem with UK's Banking System