09.05.2011 - Singapore GIC: Risk of major economic crisis
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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