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In wartime such countries could easily outspend those run by aristocrats, which had a history of default.
But it's not just a case of looking for the usual suspects, emerging countries, such as Russia, with big debts and a history of default.
Greece has a greater debt burden, a history of default and book-cooking, and no control over the currency in which it borrows.
An association between a previous history of default and subsequent default was found in our study and has been reported in several other settings [ 38- 41].
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The truth is Spain does not have a history of defaults.
Conversely, people who use credit less responsibly those who tend to miss payments for prolonged periods or who have a history of defaults and bankruptcies in their credit records—usually receive low credit scores.
Someone with a history of defaulting on loans isn't the kind of character you want shaping your team's culture.
There is a long and not very honourable history of sovereign default, either explicitly or implicitly via inflation and currency depreciation.So which countries are in the biggest trouble?
Among re-treatment patients, cases were more likely than controls to have a history of previous default.
Greek default is inevitable, said Mr. Rogoff, author of a history of sovereign defaults.
Europe can look to a long history of debt defaults by sovereign nations for precedent.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com