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If the European Union lends to European countries under duress, it could lose this money, in the event of a complete default.
The core countries and the IMF could at least partially undo the mistakes they made from 2010 to 2012 in first delaying default, and then failing to impose a complete default".
Yes, perhaps, the authors are slow to acknowledge that austerity has had severe consequences in Europe, although it is hard to see what alternative approach Greece could have pursued; complete default and euro exit would also have been traumatic.
Meanwhile, creditors are demanding sky-high interest rates from Greece, as it relies on bailouts to avoid complete default.
Yet creditors sometimes prevail to their own detriment; by pushing the debtor to the breaking point, they end up bringing about a complete default.
It might be in the best interest of the creditors to receive less than they expected in repayments, as it would protect the majority of the principal investment they made, if it prevents complete default.
Similar(51)
Definitions of TB treatment outcomes were according to standard World Health Organization (WHO) definitions [ 18, 19]: Cured, treatment completed, default, transfer out or died.
No statistically significant differences were found between the respondents' rating of adequacy of their diabetes knowledge among three groups of respondents who had completed, defaulted or were attending an education programme.
The proportion of patients with treatment outcomes registered in the National ETR as cured, completed, defaulted, failed, and died were each evaluated separately as the primary impact indicators for comparing patients from tracer and non-tracer subdistricts.
In the event of default or complete nonpayment on official borrowing, including loans from the monetary fund, the losses would be borne in the first instance by shareholders.
This is despite the fact that in Russia in 1998, there was complete debt default of both local and foreign currency, no faith, total meltdown of GDP, and a central bank shut down.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com