Greece may also be in default only for a matter of days or weeks.
This case was a class action on behalf of borrowers who discharged their debts in bankruptcy but were still shown to be in default on their credit reports.
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If Greece were to default - or seen to be in default - it would mean massive losses for European banks that hold Greek debt, including the European Central Bank.
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Battery maker A123 Systems this afternoon warned that the company expects to be in default on certain of its debt agreements effective tomorrow, and could end up filing for bankruptcy protection.
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The company warned that if all resolutions were not passed at the meeting, the group would be in default of its banking facilities and it would have insufficient cash to allow it to continue to trade.
Many homeowner mortgages stipulate the loan will be considered in default if the home is moved into an LLC.
If Rite Aid didn't report, the company would be in technical default on its debt unless it could get waivers from lenders.
If he is suspended by the NFL, Vick would be considered in default of his contract, and the Falcons could try to reclaim the signing bonus.
Blink is about 10 weeks away from landing in the stable version of Chrome (it's expected to be turned on by default in version 28), but it's already available as part of the Canary build.
For starters, the U.S. would be avoiding a default in the near term, but the size of the deficit would remain a worry.
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Ubuntu Web Apps will be available as a preview for Ubuntu 12.04 LTS soon and will be available by default in Ubuntu 12.10.
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Bond spreads are always higher on riskier debt because bond holders are being compensated through yield for future losses that may be incurred in a debt default.
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Or, you can read it as saying that Greece will not - must not - be allowed to default in an uncontrolled way, that brings down banks and infects the broader European economy.
Greece leaving the eurozone and adopting its own currency would be associated with default in its government debt, a collapse of the Greek banking system, and would probably tip the Greek economy into depression.
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Taken together, these developments suggest there is unlikely to be an Irish sovereign default in the next few years and the country is likely to move out of its current EU-IMF programme towards some mix of private funding combined with actual and contingent official support.
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Coincidentally, also in May, Microsoft announced that the "Do Not Track" (DNT) feature will be turned on by default in the next version of Internet Explorer. (Many browsers already have it, but it's off by default.) In addition to being a browser setting, "Do Not Track" is an initiative proposed by the Obama administration, similar to "Do Not Call" for unsolicited phone calls.
Such high spreads usually occur when the fear of defaults is high, but given the excess liquidity in the banking system, a default wave does not appear to be in the offing.
Even if analysts were so enlightened as to look beyond these numbers, many companies would nonetheless be in breach of their loan covenants, and thus in technical default.
The judge's action, on appeal, could be construed as putting Greyhound in technical default on a credit line.
Meanwhile their shares, which would normally be the most worthless securities in a default, suggest that the firms still have substantial value.
That will let users link their Facebook account to their Netflix account and automatically share what they watch with others, although sharing will be limited to Netflix by default -- Facebook sharing needs to be enabled in the "Social Settings" on the Netflix website.
In reality, this path simply represents just another form of default, as creditors will ultimately be paid back in currencies that are worth less in terms of real purchasing power.
The Dubai debt now in default just happens to be Shariah-compliant bonds or sukuk.
But, as my colleague Robert Peston noted, a Greek default would be no walk in the park for the rest of the Eurozone either.
Sure, there are some not-so minor details to work out, not the least of which is the fact that the rating agencies consider any change in the existing bonds to be a default.
Unfortunately for Acting Chairman Lawson and his friends, the proposed Eximbank lending facility for the Russian energy sector cannot be implemented so long as Moscow is in default to Eximbank, as it is at present.
It would ensure that there would be in place an orderly procedure for preventing default on the national debt and Social Security if the government reaches the debt ceiling and is precluded from borrowing more money for a while.
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Most Americans are more concerned about the games on their iPhone, the NFL labor strike, and assorted other bread and circuses, than the very real prospect that our 235-year-long narrative of increasing dominance could be suddenly over in a flash should we default or come close to defaulting on our debt.
Their assumption seems to be that a real default (and along with it a triggering of the credit default clauses in all those CDS contracts) would be a bad thing for the banks and thus a credible threat to get them to line up for the voluntary version.
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