The Russian government decided to default on its sovereign debt, devalue the ruble and suspend payments to foreign creditors by commercial banks.
Given this risk-reward trade-off, deciding to default — or #GrieFault, as it's been dubbed on Twitter — probably qualifies as one of the few wise economic decisions that President Fernández, Kirchner's widow and successor, has made.
It unilaterally decided to default on its debt.
When Orr decided to default on these payments in June, the $11 million monthly casino revenue went to the insurers of the swaps holders.
The question really is whether United States Treasuries, the country's instrument of financial power, is something to be preserved at all costs, as most economists say, or if their status gives the country some leniency in the markets if lawmakers decide to temporarily default, for instance.
See These Private Student Loans Can Be Easily Discharged in Bankruptcy or as you read before, you may decide to strategically default and deal with the situation.
Write down the current settings if you decide to change default settings on your virus protection software, so that you may change the settings back if the new ones don't work.
The best and the brightest young Europeans may emigrate to countries without such burdens; and if the economy stagnates, those that remain may eventually decide either to default on their debts, or to cut benefits to the elderly.
Under these circumstances, deciding whether to default might be no more controversial than deciding whether to claim insurance after your house burns down.
In March 2007, the energy ministry referred to leaving "the door open" to exploitation, and an agreement signed with the United Nations Development Programme in 2010 in which it agreed to establish a fund to collect donations acknowledged that Ecuador could "default" and decide "to initiate oil prospecting in the Yasuni ITT oil fields".
