Sovereign credit is the credit of a sovereign country backed by the financial resources of that state. Sovereign credit is the opposite of sovereign debt. Fiat money is sovereign credit and sovereign bonds are sovereign debts. When money buys bonds, sovereign credit cancels sovereign debt.
Read more about Sovereign Credit: See Also
Famous quotes containing the words sovereign and/or credit:
“Undoubtedly equality of goods is just; but, being unable to cause might to obey justice, men has made it just to obey might. Unable to strengthen justice, they have justified might—so that the just and the strong should unite, and there should be peace, which is the sovereign good.”
—Blaise Pascal (1623–1662)
“The most threatened group in human societies as in animal societies is the unmated male: the unmated male is more likely to wind up in prison or in an asylum or dead than his mated counterpart. He is less likely to be promoted at work and he is considered a poor credit risk.”
—Germaine Greer (b. 1939)