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Bankruptcy today would simply transform an off-balance-sheet government liability into an on-balance-sheet one.
And the myth that they are not a government liability, always known but never acknowledged, will be shattered.
While regretting the "abhorrent violations of human dignity" that took place in Kenya, Hague did not admit government liability and indicated it would defend future claims for compensation.
An infrastructure bank would not endanger taxpayer money, because under the Federal Credit Reform Act of 1990, passed after the savings and loan scandal, it would have to meet accounting and reporting requirements and limit government liability.
So far, government liability has been established.
It included a national currency board appointed by the Government, eight regional reserve banks, and currency as a government liability.
Similar(48)
Its assets net out against government liabilities.
But you can apply the same method to China's local government liabilities alone.
Greater clarity on the limits of government liabilities and burden-sharing would also help.
Now that government debt is denominated in reais, a similar move in the exchange rate reduces government liabilities.
Private underspending creates both a need for fiscal stimulus and a simultaneous demand for the government liabilities a stimulus entails.
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CEO of Professional Science Editing for Scientists @ prosciediting.com