business

Sovereign default possible, avoid equities, says CLSA

The global situation may be getting graver with the huge possibility of sovereign default happening. 'The US and Europe are already in a recession and there is a risk of collapse in the European banking system. Markets are worried about insolvency in the global financial system,' Russell Napier, strategist, CLSA told CNBC-TV18.

first published: Sep 23, 2011 09:38 am