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Far too little emphasis was put on restructuring unpayable debts.
Spain is now stuck with an unaffordable currency and seemingly unpayable debts.
Four in ten of these received court summons, adding hugely inflated costs to already unpayable debts.
A lasting solution will also require restructuring unpayable debts by writing down principal, lowering interest rates and extending maturities.
Unlike America, the euro area has failed to clean up its banks or write down unpayable debts.
For years, the government falsified deficit numbers it provided to Europe, giving it cover to amass unpayable debts.
Similar(26)
"An unpayable debt will not be paid," he told me.
A lot of us owe him an unpayable debt.
This is typical of how Africa's unpayable debt was incurred.
She is thrilled to join the Unpayable Debt working group as Graduate Assistant.
They are responsible for a quiet crisis of thousands of families trapped in unpayable debt.
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