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Recriminations were also flying over the prospect of debt relief for Greece.
They argue that the prospect of debt will deter students from poorer homes.For the others, the issues are more complicated.
Now, we add another resource to our offerings: a personal essay from a high school senior about how the prospect of debt is affecting his future plans.
Meanwhile, the prospect of debt monetisation is especially risky when Japan has one of the largest government debts in the world.
It was Fidel Castro who first brought the prospect of debt cancellation to international prominence in a series of meetings and interviews as long ago as 1985.
In exchange for Greece promising to introduce more spending cuts and start implementing structural reforms to its economy, the creditors would agree to a new bailout that includes the prospect of debt relief.
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But with Britain suffering from rising fuel prices and a housing bust, there was never much prospect of debt-laden consumers filling the stores or business embarking on an investment binge.
Like the UK, we face the prospect of debts that are never repaid.
The commission president also dangled the prospects of debt relief for Greece and a €35bn "new start for jobs and growth" programme.
Once again, though, there are wide gulfs between European officials, Greece and the International Monetary Fund over a continuing austerity program and the prospects of debt relief for Athens.
Given the obvious challenges associated with restructuring Spain's external (and internal) liabilities and the grim prospects of debt monetization, it seems that the country is heading towards a sustained period of current account surpluses through repression of internal demand, while a new growth model is put in place.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com