This case, then, is one of the several moving parts that will help shape the future of sovereign default and debt restructuring.
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Worries about default on debt payments by Greece and rising Italian bond yields are the EU debt crisis worries of the moment on this day.
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Fortunately, even if Congress doesn't raise the debt ceiling, a default on our debt need not follow when our borrowings reach their limit in the next few months.
However emotionally satisfying, forcing banks to default on debt would cause the type of liquidity runs and market dislocation that brought chaos after the collapse of Lehman Brothers last year.
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Failing to make this basic distinction helped lead to serious errors in outlook during the late 1980s, during which many observers who generally share sound presuppositions about the nature of the economy were given to histrionic predictions of national default, debt monetization, and hyperinflation.
Only by summer of 2011 did the Eurozone admit that a default on Greek debt was required but, by the time the default was implemented in early 2012, Greece now had a mountain of official sector debt.
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The payments are from debt restructured after a 2001 default and new debt issued locally.
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Failing to raise the debt ceiling could cause the government to default on its debt.
Focus is on whether the EU leaders can provide help so that Greece will not technically default on its debt obligations, or whether some level of default will occur with Greece, and will be acknowledged by the EU as going to occur.
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For months, some political leaders and commentators have argued that failure to raise the debt ceiling would necessarily cause the U.S. to default on its debt.
Such a settlement would remove Moscow from the restrictive provisions of the Johnson Debt Default Act of 1934, thereby permitting the Soviet issuance of bonds and other debt instruments in the United States and on a dollar-denominated basis.
He said credit default swaps on Greek debt are at 91% chance of a default and one-year yields are now near 93%.
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The notion that the U.S. is going to default on its debt is just irresponsible.
The odds of a sovereign-debt default have shortened, making other risks seem less improbable as well.
Fears of a European sovereign debt default and contagion have led to indiscriminate panic-selling.
The vote basically pushes off a potential default on our debt and allows us to borrow.
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The likelihood of default on this debt is microscopic, which makes them a very stable investment.
Domingo Cavallo, Argentina 's economy minister, tried to banish fears of a debt default.
Such a debt default, negotiated or otherwise, looks to be only a matter of time.
But a slump could lead to debt default and a messy exit from dollarisation.
He has yet to specify whether he will default on the debt, or seek a voluntary restructuring.
The impact of triggering CDS for those who hold protection against Greek sovereign debt default would reach far.
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Yes, the headwinds of sovereign debt default and high U.S. unemployment are troubling forces to be reckoned with.
Before the crisis investors assumed no euro-zone government would default on its debt.
Greece has been in default of its debt half of the time since the end of World War II.
The lesson for America is simple: economic growth now or debt default later.
Investors cheered news that Greece would avoid a near-term default on its debt.
That is forcing the government to seek drastic spending cuts, and some tax rises, to avoid a debt default.
If demand is cut again, the risks of debt default and a wider collapse in bank credit are high.
Greece would default on its debt and adopt its own currency with its government spending and revenue roughly in line.
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