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Above all, the state-guided banks' habit of lending on the basis of political whim rather than proper risk-assessment has brought disaster.The chaebol, the crony-run conglomerates that dominate the economy, having been allowed to borrow too much, have expanded without regard for adequate returns.
This option is only available to the likes of America and Britain, which have been allowed to borrow in their domestic currencies and seem already to be exploiting this fact.Creditors used to be alive to these dangers and insisted on international agreements that required countries to safeguard the value of their currencies.
Similar(58)
As loans were repaid, people were allowed to borrow more.
Greece within the eurozone was allowed to borrow riskily and was lent to riskily.
Municipalities would be allowed to borrow nearly $4 billion, according to a Senate estimate.
The drama department had a Bolex camera which he was allowed to borrow.
To keep the wheels turning, local authorities and other government agencies were allowed to borrow.
The poorest countries will not be allowed to borrow anywhere near that amount.
And from 2015-16 it would be allowed to borrow £500m, he said.
But Mr. Pitt said short-sellers would be allowed to borrow and sell stock as they normally do.
All those books, and I was allowed to borrow whichever I wanted!
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com