Sentence examples for a catastrophic default from inspiring English sources

Friday's announcement helps pull Greece further away from the abyss into which it stared only a month ago: the collapse of its banks, a catastrophic default and the country's expulsion from the Eurozone.

He now argues that failing to raise the debt ceiling would be irresponsible, since it would risk a catastrophic default.

Senator McConnell's plan — a pragmatic way to avert a catastrophic default — may be torpedoed by more extremist House Republicans, like Michele Bachmann.

After it was approved by euro zone finance ministers in February, Prime Minister Lucas Papademos said, "Sadly, the only alternative to today's agreement is a catastrophic default".

He did not deny the possibility of a catastrophic default, as Michele Bachmann did, but had no ideas to offer about averting it without this deal.

But the maneuvering over a step that both parties acknowledge must be taken to avert a catastrophic default is also evidence of how the two parties are at loggerheads over a range of economic issues.

Beyond the countless number of American lives and businesses disrupted by the government shutdown, Congress's inability to reach a deal until hours before a potentially catastrophic default deepened domestic and international uncertainty about our ability to govern.

European leaders inched closer Monday to an agreement that could avoid a potentially catastrophic default by Greece on billions of dollars in debt, as France proposed a plan that could serve as a model for other European lenders to the teetering nation, where a general strike and widespread demonstrations were planned Tuesday ahead of a crucial austerity vote.

Mr. Papademos said that the alternative to the completion of talks on the debt swap and on a second bailout for Greece was a potentially catastrophic default.

The US Treasury has said this must be done by 3 November if the US is to avoid a potentially catastrophic default.

Mr. Obama has said flatly that he will not negotiate with Republicans about what he sees as the imperative to raise the debt ceiling and avoid a potentially catastrophic default on America's obligations.