Government as risk factor

Ask any infrastructure developer and he will tell you that the biggest risk factor is the government itself. The “sovereign” does not inspire confidence when, paradoxically, in financial markets, sovereign debt and sovereign guarantees are supposedly the safest you can get. Infrastructure developers will also tell you that the situation is akin to being invited to dinner as a valued guest; and as soon as you arrive at your host’s gate, you get roughed up, beaten and sometimes even killed by the guards on duty.

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