The IMF retorts that it might take 20 years for Europe to pay off the government debt built up during the 2008 financial crisis, global recession, and recovery, recalling that it took that long to pay off the debts Europe ran up during World War II without unduly creating hardships on the population.
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This is because countries tend not to actually pay off their debts: they hope that the economy will grow faster than the debt and so will become less important but they very rarely actually pay off the old debts.
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In the example above, paying the lowest balance works because it allows you to pay off one of the debts sooner, which helps keep you motivated to stay on track.
Among them, the Brazilian government strived to pay off debts before the credit crisis hit.
He used their funds, in part, to pay off his debts to the company.
When an individual, company or government has a good credit rating, we are saying that we trust they will keep their promise to pay off their debts in the future.
It of course makes everyone a millionaire, gives everyone the spending power to pay off their debts, put some into savings and investments, buy the things they need to make life a little easier for a while.
They decided that the lifestyle they had built was no longer sustainable and decided to make structural changes, by selling their home and renting, using the equity to pay off debts, establish a cash emergency fund and contributed to college savings for their children, which was of major importance.
With no new innovations available to purchase, consumers would use the redistributed money to pay off debts, or to continue to purchase sustaining innovations (newer products to replace older models).
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For one, their existence meant that investors possessed a market measure of the ability of debtors to pay off their debts.
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Counterparties like Goldman Sachs, knowing it could use the bankruptcy laws to force AIG to sell high quality assets to pay off its gambling debts, played them like a Vegas card sharp never losing a minute of sleep worrying that the rube might go broke.
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The group has been trying to pay off debts and reduce its losses.
Of course, if you have a more immediate need for a lump sum, for example to pay off a mortgage or other large debts, then the cash option may suit you better.
"Every penny raised would be used to pay off debts and buy new players, " added the West Ham co-owner.
Yet when there is no way to pay off debts because they are overwhelming, inflation is the only course of escape bar default.
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If a heavily indebted individual wanted to save for the future, a financial advisor would probably tell him the first step is to pay off some of his debts.
These numbers pale in comparison to the television rights of the English Premier League, but at the same time many of the English clubs desperately need that money to pay off enormous debts.
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TPI's creditors countered that this was irrelevant, since the company is unable to generate enough cashflow to pay off its debts.
The CVA would have allowed Leeds to pay off an acceptable amount of their debts to creditors.
The extra cash will help to pay off Xerox's recently incurred bank debts.
But it said it has struggled in the past 18 months and is appealing for community support to pay off debts.
By then Richardson had dropped out of the primary race, but his campaign committee was raising cash to pay off debts.
The Super League side, which went into administration after failing to pay off debts, made their entire coaching staff redundant earlier this month.
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Proceeds from the match will go to Merthyr's official supporters club to help pay off pressing debts and players' wages.
The civil complaint lays out a dizzying array of transactions that Enron employed over a four-year period to make it appear that earnings were growing steadily and that the company was able to pay its debts--many of which were hidden from shareholders through the use of off-the-book and offshore partnerships.
He rejected claims that the government was doing nothing to boost growth, saying the only way to deal with Britain's "debt crisis" was to pay off its debts.
That currency devaluation means the value of the government debts increases, causing it to eat more into its remaining reserves to pay them off.
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He is due to receive another motorbike under the demobilisation scheme, which he will sell, doubtless at a hefty discount, to pay off his debts.
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Liberal Democrat MP Greg Mulholland, who chairs the All-Party Save the Pub Group, has accused pubcos of overcharging for beer and rent to help pay off their large debts.
The marquess called himself an entrepreneur, but any business interests had to be sold off to pay debts, or did not prosper.
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