Countries start defaulting

[andviv]

Ecuador won't pay foreign debt interest

Ecuador won't pay foreign debt interest - CNN.com

• Story Highlights
• President Rafael Correa calls foreign debt "immoral and a betrayal of the country"
• Correa: $7 billion has been spent on debt interest, but principal remains same
• President "assumes responsibility" if nation faces international lawsuits

...
"If we have to confront international lawsuits, we will confront them and, I repeat, I assume all responsibility," he said. "I could not permit the continued payment of a debt that, in any light, is immoral and illegitimate."

Correa said he was preparing a restructuring plan to be presented to creditors within a few days, and he chafed at criticism of how the money has been spent.
...

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Two things came to my head with this...

1. A few bonds will probably be in trouble with this default, as many countries have a very high rating for their debt, and this default will affect them.

2. When a country defaults, does its FICO score drops 200 points too? 😀

 

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[Russ H]

Ov't ep evvovafi vjoph.

Og upi fuit ov, epf vjisi esi pu coh siqisdattoupt, uvjist xomm gummux.

Jesf vu cmeni vjin-- cav vjiz FOF veli vji nupiz, epf neli qsunotit.

Voni gus e hmucem Woppz vu tjux aq epf tvseohjvip vjin uav.

Xomm ci opvisitvoph vu tii jux vjot qmezt uav.

-Satt J.

 

[Bilgefisher]

O xupfis jux nadj ov xomm eggidv vjin? Op xjev xezt duamf zua qapotj vjin op vji dassipv idupunod dmonevi?

 

[andviv]

Ximm, O sinincis Eshipvope fof vji teni esuapf 1999 us 2000, O'n puv tasi.

Vji tvsevihz vjiz atif xet tunivjoph moli:

Pu nusi qeznipvt. Og zua xepv zuas nupiz, miv't sipihuvoevi.
Niepxjomi, vji huwispnipv atif vjev nupiz gus opvispem qsukidvt.
ONG epf vji huwispnipv xuslif up e fiem vu sitvesv qeznipvt.

Vjiti fezt vji Eshipvopoep idupunz ot fuoph xez civvis vjep nutv op vji dupvopipv.

O vjuahjv ev vji voni vjev, op vji ipf, ov muult moli ov xuslif uav gus vjin, epf O xet iyqidvoph nusi duapvsoit fuoph vji teni, cav vjev xet puv vji iggidv. Vji xusmf idupunz xet op e civvis tjeqi vjep vufez, tu ov xomm ci opvisitv vu vsedl vji duptiraipdit.

 

[andviv]

O guapf nusi opgu ecuav vji Eshipvopoep dsotot (Xolo, xjev e tovi)

Eshipvopi idupunod dsotot (1999-2002 - Xoloqifoe, vji gsii ipdzdmuqifoe)

Eshipvopi idupunod dsotot (1999–2002) - Xoloqifoe, vji gsii ipdzdmuqifoe

Eshipvopi ficv sitvsadvasoph - Xoloqifoe, vji gsii ipdzdmuqifoe

Vji Eshipvopi huwispnipv liqv e gosn tvepdi, epf gopemmz huv e fiem op 2005 cz xjodj 76% ug vji figeamvif cupft xisi iydjephif cz uvjist, ug e nadj muxis punopem wemai (25–35% ug vji usohopem) epf ev muphis visnt. Op 2008, Qsitofipv Dsotvope Gispepfib fi Losdjpis eppuapdif tji xet tvafzoph e siuqipoph ug vji 2005 txeq op usfis vu heop efjitoup gsun vji sineopoph 24% ug vji tu-demmif "jumfuavt," epf vjisicz gammz iyov vji figeamv xovj qsowevi opwitvust.