So 2015 looks set to be a difficult year for countries struggling under heavy debt burdens. Only two months in and we have already seen precarious economic situations in states, including Greece and Ukraine, worsen substantially. Few would bet against the likelihood of a major debt restructuring in the near future. But have we become too afraid of the word lenders hate to hear — “default?” Well the first thing to note is that we are coming out of a period of historically low levels of sovereign defaults. Since the Second World War the percentage of all states’ in default …read more
Source: Business Insider