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But what's worse?: paying the bills and what's owed to peeps of this country or being viewed worldwide as "bad creditors" and defaulting?
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If China were a fully capitalist economy, the outcome would be eminently predictable: a 2008-style "Minsky moment" in which something bad happens, creditors panic, new lending dries up, and a crash ensues.
Either way, it is bad news for creditors.
So one might say that what is bad for General Motors' creditors will turn out to be bad for America.
When some of the investments went bad, workers and creditors felt most of the pain.
For example, if he has a bad debt, his creditor can sue and force the sale of your property to pay it off.
In an interview with the French broadcaster BFMTV he described the deal proposed by creditors as "bad".
But what he's really doing is juggling, a tricky proposition, given that he's holding a cigarette in one hand, carelessly tending to the wheel with the other hand, while a stream of bad news from his creditors and various projects pours into his ear like poison.
Someone with a large amount of money can initially weather a bad time or keep creditors at bay.
"The government's decided it's had enough of the bad publicity," said one creditor involved in Thai Petrochemical's restructuring.
It is made more likely by the fact that everyone is so angry with each other — the Troika with Greece's non-reform, and Greeks with what they see as the hypocrisy and bad faith of the creditor countries.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com