Does anyone have issues with the manner in which Roy has framed this? He says he will not need money if the government gives him a sovereign guarantee. Now, someone can correct me on this; but I was under the impression that a sovereign guarantee implies that our government guarantees payment of all costs if the original obligor defaults.
Now, we don't know a priori who Roy's investors are, but we have had past experience with many, rather well-known businesses in both India and Bangladesh defaulting. This implies, that at the very least, BG will have to budget for an extra Rs. 80,000 crore, even if we don't end up paying it, despite Roy's words. Leaving aside other pro and con arguments, can we currently even afford this?
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