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Another historical parallel – to 1931 when Germany was burdened with debt, unemployment and austerity while France and the United States were relatively strong creditors – gained attention in summer 2012 even as Germany received a debt-rating warning of its own.
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Mr. Muller responded by voluntarily seeking court protection from creditors, gaining time to seek funds.
Holders of subordinated debt, who come low down the pecking order of creditors, gain little from bigger profits, but could lose everything if a bank has to be bailed out.
A defaulting country would need the agreement of creditors to gain access to new private finance.
The private equity giant led a group of creditors in gaining control of LyondellBasell Industries when the chemical maker emerged from bankruptcy in April of 2010.
If it goes into foreclosure, the creditor would gain ownership.
Both Sides Point Fingers He criticized as immoral the private creditors seeking to gain from the Congo Republic's misery, and rejected the notion that debt investors could play a positive role in exposing corruption.
But on the positive side they are among the larger creditors who could gain control of the property.
This time the groups that gained were investors and creditors, for the narrow focus on attaining price stability meant that central banks kept interest rates low even as markets became frothy.
The other big Swedish banks, like SEB and Swedbank, gained enough time and creditor patience from the blanket guarantee to restructure themselves.
In Malaysia, the market gained 5.0% on speculation that creditors will approve extensive debt restructuring.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com