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One interesting thing to consider is that countries holding larger and larger amounts of each others debt could be stabilizing in geopolitics. If your neighbor
by solotronics 8y ago
One interesting thing to consider is that countries holding larger and larger amounts of each others debt could be stabilizing in geopolitics. If your neighbor owes you $100 you aren't going to punch him because you would never get the money back.
- pjc50 8y agoOh, debts survive wars. They can often outlive countries. France is still paying a single annuity from 1738, although countries have learned not to issue eternal debts since then.
- orf 8y agohttps://www.cbsnews.com/news/a-government-pension-thats-lasted-271-years/ https://www.cbsnews.com/news/a-government-pension-thats-last... if anyone else is interested
- rosege 8y agoAnd it took the UK until December 2006 to finally repay the USA and Canada their WW2 debts http://news.bbc.co.uk/2/hi/uk/6215847.stm http://news.bbc.co.uk/2/hi/uk/6215847.stm
- Armisael16 8y ago...has the UK changed governments since then? I must’ve missed that.
- cft 8y agoThey usually don't. What you are taking about is worth only 1.20 euros a year. https://www.cbsnews.com/news/a-government-pension-thats-lasted-271-years/ https://www.cbsnews.com/news/a-government-pension-thats-last...
- Semaphor 8y agoGermany is paying the Catholic (?) church nearly half a million every year because of a contract from 1803
- Bendingo 8y agoThat's true, but somewhat dependent on which currency the debt is denominated in.