What happens when a country doesn’t pay its debts?

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Can they just ignore the debt like it never existed? Are there real reprucussions for the government or impacts to the econony?

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Anonymous 0 Comments

Believe it or not, they are actually given more money by the bank. In most cases, defaulting on a debt would be more expensive than lending them more money. A bank profits from interests charged on loans, no loan means no interest hence no profits. It’s a complex web, but really look into it.

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