Looking at these numbers, lenders calculated that the present value of both Greek GDP and Greek government revenues was infinity, and that its debt capacity was infinite.
And, back in 2007, the markets pretty much dealt with the Greek government as if it had infinite debt capacity, lending to it all of the money it wanted, at interest rates only slightly higher than those charged to Germany.
This will also provide an opportunity for the ESM to receive loans to purchase sovereign debt in an almost unlimited capacity, effectively mutualising debt between countries (effectively creating a common Eurobond) while expanding capacity to purchase on an unlimited basis.
We may have difficulties in taking the steps to agree to pay our debt, but we have the capacity to pay our debt.
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Too much debt and excess capacity weighed down firms, particularly in the electronics industry, which was at the heart of the American recession.
These include labour-market measures and incentives for firms to shed excess capacity and debt.
It is also offering corporations legal changes and some tax breaks to restructure and overcome the so-called "three excesses" of too much capacity, debt and staff.
"We do think it is clearly negative for holders of commercial debt, that is our view, that it will weigh on countries' capacity to serve their commercial debt, " he said.
Without massive federal largesse or the capacity to underwrite debt, deep budget cuts must be implemented.
Their capacity to sustain debt was different than ours.
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But Oshkosh made the same kind of mistake that many other well-run companies made at the height of the sub-prime housing boom, buying deep into the construction equipment sector at the top of the market and then suffering a staggering collapse in demand that impaired its capacity to meet debt obligations.
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Government spending will lag the inflation rate creating a surplus which is needed to service the huge debts incurred and, over time, increase the capacity to take on new debt.
Quite how near was signalled by the ratings agency Fitch yesterday, which said that OBR's forecasts of rising government debt had reduced the UK's capacity to absorb further shocks and retain its AAA rating.
The Fed doesn't have an unlimited capacity because when it buys the debt what it's doing is monetizing the debt.
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However fast companies are cutting capacity that once served Americans' debt-fuelled consumption, Japan's whole economic structure is geared towards meeting external demand.
If the equity ratio is comfortable, it suggests the ragamuffin under analysis carries the capacity to refinance some of its debt unless the situation deteriorates after your entry point.
Excess capacity and the overhang of corporate debt may prevent full recovery for some time, but most Asian economies could start to see at least some growth by the second half of 1999.
Investors are also concerned about the financial problems of Chinese solar companies, which have accumulated heavy debt obligations over the past several years to fund capacity expansion, with the support of local banks and government.
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Ironically, we all owe a debt of gratitude to Rowan Williams, who in his capacity of Archbishop of Canterbury is the head of the Church of England.
America's government is working hard to revive markets for securitised debt, aware that banks lack the balance-sheet capacity to absorb all of those credit-card receivables and auto loans.
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"The worry that's developing is that debt is being pushed onto borrowers who might not have the capacity to repay, " says Frederic Neumann, co-head of Asian economic research for HSBC Holdings PLC.
As Martin Wolf of the FT pointed out this morning on Today, this German fear of becoming banker to the entire eurozone even infects the capacity of the European Central Bank to buy the debt of Italy and Spain in sufficient quantity to prevent their sovereign borrowing costs from ballooning to potentially lethal levels.
Instead they have been used to bail out risk-takers who took very bad risks, increasing our collective debt and deficits at the expense of long-term productive economic capacity.
The fiscal position's vulnerability to a softening of international oil prices, combined with Mr Correa's weaker commitment to debt servicing, could cast doubt on the country's payments capacity.
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But they misjudged the thin capacity of deleveraging economies to withstand shocks by taking on more debt.
They believe they have adequate capacity to meet demand and, besides, they are in debt from construction costs.
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The downgrades were "driven by the increased risk of further shocks emanating from the euro-area debt crisis, in combination with the banks' limited loss-absorption capacity, " Moody's said.
Eventually society exhausts the carrying capacity of the truly productive and leverages itself with so much debt that the private economy is crowded out or manipulates the medium of exchange in a way that destroys the purchasing power of working class people.
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The key issues are the rational desire to reduce debt loads, and the inadequacy of profitable investment opportunities in an economy flooded with excess capacity.
Because of the financial crisis, but also because that debt was fundamentally unsustainable, the United States is not going to be able to serve in that same capacity to that same extent.
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