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That would leave the government in question with less revenue to redeem debt, and thus a higher debt-to-GDP ratio than it would otherwise have had.
That, as fastFT explains here, means Lisbon will be under less pressure to redeem debt next year -- potentially making it easier to exit its bailout programme.
This scheme would be smaller than Bruegel's, covering around €2.3 trillion, and since its purpose is to redeem debt above the 60% threshold, the fund issuing the Eurobonds would eventually wind up though that would take 25 years.
This is to be done swiftly over the next week, said Jean-Claude Juncker, the Luxembourg leader and chair of the eurogroup, so that the first funds can be released before 19 May when Greece needs to redeem debt of €8.5bn.
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Either Ukraine redeems debt and pays for the current deliveries, or there is a risk to return to the situation of early 2009," Gazprom Chairman Alexei Miller said.
The system worked reasonably well in peacetime because there was an annual surplus of revenue, but, after the outbreak of war in 1793, the government redeemed debt bearing a low interest by fresh borrowing at a higher rate of interest.
Record payments to redeem foreign debt are due this year.
If you fail to redeem the debt on time you get nationalized.
In the extreme, it might be unable to pay interest on, or redeem, its debt, causing a default.
Berlin will tell Paris and everyone else that if they want to use German credit cards to guarantee or redeem their debt, the federation is the price they will have to pay.
In their place, society has a right to demand that national networks and local stations redeem their debt for the use of the public spectrum by giving candidates ample free time to introduce themselves and their views.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com