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But shrinking tax revenues and limited debt service capacity have tied the hands of state and local governments.
The gloomy economic situation and the limited debt financing currently available make it hard to complete traditional leveraged buyouts of European companies.
We have long argued that the single currency needs a lender of last resort, a banking union and limited debt mutualisation.
After months of negotiations, Europe agreed to limited debt relief to Greece earlier this month by giving Athens longer to pay and reducing the interest rate payable on its loans.
Eurozone finance ministers are poised to offer their tentative backing for Greek bailout proposals, after Athens caved in to creditor demands for further austerity measures in return for the promise of limited debt relief.
The letter urged him to be more precise about the limited debt cancellation being offered, arguing that giving the impression everything had been sorted at Gleneagles would undermine future progress.
Similar(41)
It also formally limited state debt, a predecessor of many contemporary "debt ceiling" clauses.
They have forgotten that in 2001 Anne Krueger, then first deputy managing director of the IMF, proposed a more limited Sovereign Debt Restructuring Mechanism (SDRM).
Wexner has known setbacks, including a brush with disaster in the late 70's when rapid expansion almost drowned The Limited in debt, but he has emerged a billionaire as the value of his company's stock has skyrocketed.
While Black and his partners have taken out more than $1 billion from Apollo over the last year by selling off pieces of its management company and offering a stock that trades on a limited exchange, debt holders in his deals haven't shared in the generosity.
Latest accounts for 0800 Reverse Limited show debts of £19,219.
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