5c092d0346f86f400c309202_pa3795c.jpg Paul Lachine

Democracy or Finance?

"Shorting" sovereign debt is how financial markets hold governments accountable. Ultimately, however, it is voters, not markets, that hold governments to account, and, when these two accounting standards diverge, the popular standard must prevail if democracy is to survive.

LONDON – “Shorting” is a tactic well known among the financial cognoscenti. It means betting against an asset with borrowed money in the expectation of making a profit when its value goes down.

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