The following guest post about the practical and ethical arguments against debt cancellation is by Rui Soares, an investment analyst and member of the investment team at FAM Frankfurt Asset Management – a firm that specialises in high-yield bonds and options-based equity strategies. The views expressed here are his personal opinions and do not necessarily reflect the views of FAM.It is a law of finance that as government deficits balloon, calls for debt forgiveness grow. And, sure enough, this time is no different. In November, Riccardo Fraccaro, Italian cabinet under-secretary and close aide to Prime Minister Giuseppe Conte, floated the idea of the European Central Bank cancelling government bonds bought during the pandemic. Putting our cynicism to one side for a moment,
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The following guest post about the practical and ethical arguments...