This would indeed be the case for many advanced economies today, for which the interest bill is not the main component of the deficit. I agree with Balcerowicz that the standard approach, treating the debt-distressed sovereign as a benevolent social planner maximizing social welfare in an infinite time horizon, is not  1  Cottarelli, Forni, Gottschalk and Mauro (2010).
Mutual funds, for example, must provide disclosures sufficient to help retail investors make informed choices. When instruments and strategies are so complex that an unsophisticated investor could not be expected to effectively evaluate and manage the associated risks, U.S. regulators have chosen to limit the exposure of those investors.