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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

Singapore GIC: Risk of major economic crisis

Posted on 09 May 2011

Government of Singapore Investment Corp. Deputy Chairman Tony Tan said Monday that a major financial and economic crisis could erupt if the U.S. loses its AAA credit rating in a disorderly manner, while significant structural problems still plague the global economy.
“We face the possibility of another major financial and economic crisis if the world’s risk-free asset, hitherto U.S. bonds, loses its AAA credit rating in a disorderly manner,” Tan, who is also GIC’s executive director, said in a speech at a conference organized by the sovereign wealth fund……………………………………….Full Article: Source


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