The phrase "default on debts" is correct and usable in written English.
It is typically used in financial contexts to describe a situation where an individual or entity fails to meet their debt obligations.
Example: "The company was forced to declare bankruptcy after it defaulted on debts amounting to millions."
Alternatives: "fail to repay loans" or "breach debt obligations".
Part of the answer is obvious: each day without work is a day without income, a drain on savings, an increased chance of default on debts.
The downgrade increases their borrowing costs, as the lower the rating the more it is perceived that there is the possibility of default on debts.
There is no precedent for a country to default on debts and crash out of a currency union that remains intact.
The Sunday Independent nationwide telephone poll of 500 people found that 57% were in favour of default on debts to bondholders within Irish banks with 43% opposed.
The country has begun to default on debts; earlier this year, Goldman Sachs helped bail out the government with a bond purchase of $2.8 billion.
For Roberto Lavagna, Argentina's economy minister, that vindicates some tough tactics (of threatening to default on debts to the IMF, and doing so to the World Bank) and rewards his country's emerging, if fragile, stability after last year's collapse.But now the hard work starts, for President Eduardo Duhalde and for whoever wins an election to replace him due in April.
Loews Cineplex said on Aug. 25 that it might default on debt payments.
Instead of spending recklessly, reigniting inflation and perhaps defaulting on debt as Argentina has done, Lula clamped down on inflation and saved extra money to pay the debt.
The swaps provide a measure of the cost of insuring against a default on debt.
Senior government officials have recently had to repeat assurances that Greece is not about to to default on debt repayments.
Some major global banks and companies could default on debt repayments.
