A US debt default would threaten “a fundamental anchor” of the worldwide monetary system and “should not occur,” BlackRock Inc. Vice Chairman Philipp Hildebrand warned Thursday on the Bloomberg New Financial system Gateway Europe discussion board.
“All we are able to do is to hope that everybody in the USA understands how essential the sanctity of the sovereign signature of the main foreign money, of the main bond market, of the main economic system on the planet is,” Hildebrand, a former president of the Swiss central financial institution, mentioned throughout an on-stage interview. “This isn’t one thing you wish to mess with.”