The moment a large investor doesn’t believe a government will pay back its debt when it says it will, a crisis of confidence could develop. Investors have scant patience for the years of good governance – politically fraught fiscal restructuring, austerity and debt rescheduling – it takes to defuse a sovereign-debt crisis.
Andrew Ross Sorkin
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In the age of activism that is clearly not going away, it would seem that some form of engagement from directors with shareholders - rather than directors simply taking their cues from management - would go a long way toward helping boards work on behalf of all shareholders rather just the most vocal.Andrew Ross Sorkin