That limit does not prevent rolling over existing debt that is due by issuing new debt to pay it, as that would not increase the total outstanding debt.
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They can still roll over debt, covering any debt that becomes due with new borrowing, which would not require increasing the total outstanding national debt.
In addition to the credit issues that have become old hat, the financial sector was also confronted with a dramatic depreciation in the euro during the second quarter due to worries over sovereign debt in Greece and elsewhere.
This could mean, for example, that the troops in the various wars could not be supplied or paid, that air traffic controllers could not be paid, that the US government could not roll over the debt that comes due or issue the new debt that pays for 43% of federal budget expenditures.
The agency notes that Alcatel faces 2.1 billion Euros of debt coming due over the next 24 months.
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The US can always roll over its debt as it comes due and interest payments will be manageable for a very long time.
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For if as a result of the subordination Spanish bond prices fall enough, then the banks become bust once again and also the Spanish state is facing interest rates too high for them to be able to roll over debt as it becomes due.
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The state banks have agreed recently to roll over most of the debt which comes due this year.
Congress, which authorizes federal spending, has failed to pass detailed annual budgets in recent years due to partisan gridlock over spending and debt, as well as electoral politics.
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Although Moscow and Minsk eventually reached an agreement, alleged violations led Gazprom to announce a cut in the supply of gas to Belarus due to a debt of over 450 million dollars, leading to a new crisis that could strangle the Belarusian economy.
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On Wednesday, Avik could have watched the demonstrations taking place at NYU over the crushing debt load students are accumulating due to the high cost of their college education.
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European currency movements have also contributed to the shift, with the value of the Swiss Franc rising more than 20% against the U.S. dollar last year due to ongoing concerns over Europe's debt crisis.
High debt levels in the U.S. due to low lending rates over the past years is further holding back spending as consumers prioritize debt reduction over consumption.
It has an accountability to shareholders who would definitely already be unhappy over the suspension of dividend payments due to the mounting debt burden.
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Hence the interest in a second Vienna initiative, whereby Greece's existing creditors would band together and agree to roll over their exposures to Greek debt when they fall due.
Second, CHK is extending the average maturity schedule of its debt by replacing senior notes due to mature over the next six years with convertible preferred shares that come with no maturity date.
The year-over-year change was primarily due to an unrealized gain on exchangeable debt that was included in the 2011 results.
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Due to macroeconomic uncertainty caused by the burgeoning debt levels of governments worldwide, corporates over the past year or so have become extremely cautious with their network spending.
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Consumer spending remains sluggish due to continued concerns over the outlook for job growth, recent declines in the stock market, the sovereign debt problems of European countries and the Gulf oil spill.
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