Can they just ignore the debt like it never existed? Are there real reprucussions for the government or impacts to the econony?
In: 467
The Dominion of Newfoundland (now the Canadian province of Newfoundland and Labrador) couldn’t pay for its debts in 1934 and gave up being a country over it. The British government ran Newfoundland with an appointed commission until they joined Canada in 1949. So there can be repercussions just not usually.
Latest Answers