While default sounds definitive it is rarely so clear cut. Default is often subjective and murky, even more so when it involves different obligations of a sovereign state. Different creditors have different definitions of default, some of which are linked to each other and some of which aren’t. Ultimately, it depends who Greece ‘defaults’ on and whether it eventually makes amends – i.e. is the default temporary or is it a permanent write off. For the purposes of this blog we take ‘default’ at its most basic level – non-payment to creditors.
Mike Johnson Goes Full Neocon, Nikki Haley May as Well Be House Speaker
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In a speech that Nikki Haley would endorse 100 percent, Speaker Mike
Johnson begs the House to approve more aid to Ukraine and Israel to the
tune of $95 bi...
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