Finance theory has long told us that government credit is the most reliable credit of all. It can cover its obligations by raising more debt or printing more money, or raise taxes to generate more revenue, or shut down operations to cut expenses. There is no other credit better than the government. That is why it is called risk free. You don't need to go to finance school to know that.
What gets on my nerve is when some politicians argue that pension funds should not own government credit. Are they living on Mars or what? Look at US, Japan, Euro all over. Government credit is what keeps the market going and keeps pension funds afloat, fueling the equity market. It is sad how these irresponsible politicians led the people to question the credibility of long respected institutions just for the sake of targeting the single leadership.
Someone must put a stop to all this circus. If it is a campaign against one entity or one person, keep it that way. Don't drag other innocent institutions down.
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