As long as the owner is not the State, or guaranteed by the State, that risk is in there. If that risk is assessed by market instruments, you end up with a higher discount rate.
There's no market trick around it. A production facility presents risks, if not absorbed in a wider entity. They have a price. In the long run, we're all dead. John Maynard Keynes
But I am proposing an alternative method of risk sharing without involving the single points of failure represented by risk intermediaries.
As for States, you only need to look at what happened in the tin market.
Put Not Your Trust In Princes..... "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky
