Opinion | Sovereign borrowing in dollars could prove addictive
The prospect of such a bond issuance creates considerable risks without much in the way of upside gains
If you’re a non-smoker, and someone tells you that smoking one cigarette a day for the rest of your life will not be so harmful for you, and may be enjoyable, would you walk to the nearest paanwala and buy your first smoke? Probably not. You will likely reason that, if you enjoy that first cigarette, you will be tempted to increase your intake, and, if you are not disciplined, you might end up being a pack-a-day smoker, which would most certainly be harmful to your health.