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Worldwide debt forgiveness? That'd be a first. Interesting to see. However, every country will try to eke out some advantage in this. War, economic and otherwi
by AstralStorm 7y ago
Worldwide debt forgiveness? That'd be a first. Interesting to see.
However, every country will try to eke out some advantage in this. War, economic and otherwise, is not out of question. But if taxpayers say no...
- nradov 7y agoThere would be no debt forgiveness involved. It would be a forced cram down imposed on bondholders against their will.
- AstralStorm 7y agoSure, but this would only work on private debt. Countries tend to shrug it off or get involved if said massive debt is related to their economy - e.g. China.
- nradov 7y agoNo that's incorrect. All bondholders would be subject to the same terms. China has no power to enforce anything different.