SMC Capitals has come out with a research report on corporate bankruptcies in US and UK markets.
The report says, "We heard about plenty of corporate bankruptcies in the year 2008. Now, we have started to hear about sovereign defaults. It has started with Iceland, then Dubai, and now Greece. When the bankruptcy poison is lurking around the system, the weakest hand gets eaten first. That's what happening. The poison has attacked those weak European economies and over-leveraged Dubai, as its first round of victims. And, it is moving fast towards Portugal, Ireland and Spain. The UK and US are also not appearing to be far away."
"While such scenario is going to unfold, it would be difficult for any country (including India) to escape, as the world's financial architecture became so integrated, interrelated and interdependent. If all this makes one feel that 'going and settling in Haridwar makes more logical sense than experimenting on Dalal Street', it would be difficult to deny," according to SMC Capitals report.
