Any reversal in our fortunes could be “quick and sharp”, says the Bank for International Settlements

World debt ratios have spiralled to record levels during the era of super-easy money and markets are showing tell-tale signs of late-cycle excess, leaving the international financial system acutely vulnerable to a jump in borrowing costs. 

Ambrose Evans-Pritchard, Telegraph 24 June 2018

Any reversal in our fortunes could be “quick and sharp”, says the Bank for International Settlements, the venerable global watchdog based in Switzerland and the scourge of dissolute practice.

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