Sentence examples for major default from inspiring English sources

A major default could bring about a breakdown of the structure of world finance, and a world depression might ensue.

Without bailout funds, Greece is heading for a major default next month, when it has to redeem more than €3 bn of bonds with the ECB.

Mrs. Kirchner has defended her move to tap the reserves as necessary for Argentina to restructure $20 billion in foreign debt from the nation's major default in 2002.

But as he named his successor, he issued a grim forecast about a coming stockmarket correction and the growing risk of a major default amid the frenzied mergers and acquisitions activity in th City.

"If we avoid a major external or internal shock," like a military confrontation with Iran or a major default in the euro zone, "we may avoid another recession and that might be good news.

Moving down the capital structure, he noted that high-yield, or so-called "junk debt," is also drawing investors seeking outsized returns in a market where there has not been a major default in recent memory.

These were highly unstable arrangements, arousing fears that major defaults would occur.

But, because there have been few major defaults in this market, there is little precedent for arbitrating the unique terms of these instruments.

The financial crisis that enveloped Argentina early this year -- leading the nation to default on $141 billion in debt -- has spread turmoil to Uruguay, Brazil and other Latin American nations, causing their currencies to fall in value and raising fears of major defaults on debt payments, including money owed to United States banks and investors.

As the White House fact sheet says, "The President's proposal would attach a cost to leverage for the largest financial firms, leading them to make decisions more consistent with the economy-wide effects of their actions, which would in turn help reduce the probability of major defaults that can have widespread economic costs".

Otherwise, major defaults from excess debts may destructively extinguish some of the excess money.