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Creditors have committed more funds to Greece – at €240bn, the biggest bailout in world history – than any other troubled economy since the tiny nation, revealing the unsustainable level of its public debt, triggered the eurozone crisis in late 2009.
The failure of many eurozone countries to stick to the self-imposed rules on government debt triggered a major financial crisis in 2009.
MF Global filed for bankruptcy protection on Monday after risky trades on European debt triggered its collapse.
The firm's bad bets on European debt triggered a crisis of confidence in one of the most active commodity brokers in the world.
His speech denying federal loans that would keep the city from defaulting on its debt triggered the famous New York Daily News headline, Ford to City: Drop Dead.
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Though unprofitable, the company traded its stock for government bonds and took responsibility for the national debt, triggering a wave of speculation, a spate of imitators and a belief that unlimited credit expansion could sustain prosperity.
But at this point it's all too easy to imagine a default on debt, triggering a crisis of confidence, which forces the government to impose a banking holiday — and at that point the logic of hanging on to the common currency come hell or high water becomes a lot less compelling.
By the time Congress bought a second large-scale work by Moran, "The Chasm of Colorado" in 1874, Cooke's bank, Jay Cooke & Company of Philadelphia, had collapsed under the weight of its accumulated Civil War debt, triggering the Panic of 1873 and one of the longest economic downturns in American history.
This week the hope that Moody's and S&P might do likewise sent the stockmarket sharply upwards again.In this section A spring in their step Spend, spend, spend Relaxed The Illinois gamble Market shifts Tough Hessian Seeking the right medicine Buttonwood ReprintsIn short, Russia is roaring, just as it did in 1998, before its government defaulted on its domestic debt, triggering a systemic collapse.
In 1982 Mexico defaulted on its debt, triggering the LDC Debt crisis.
Even if the starting point is a high debt-to-GDP ratio, it can be a long time before growing debt triggers an emergency.
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