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Debt now became something to be refinanced rather than repaid.
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The amount of debt waiting to be refinanced is daunting.
This will have to be refinanced at higher rates.
Secondly, debt needs to be refinanced on a constant basis.
With mounds of European debt due to be refinanced early next year, the crisis is far from over.
But there is still a pile of debt that needs to be refinanced over the next decade.
For REITs there are the 2010-12 lines of credit, which need to be refinanced.
The whole system also needs to be refinanced.
Stephen G. Cecchetti, head of the monetary and economic department at the institution, called the refinancing issue "a vulnerability and something to be watched".
You may be refinancing simply to reduce your debt, or you may be refinancing because you are finding it hard to make the payments.
Debts were refinanced to cut interest rates.
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