can a country go bankrupt due to debt burden?

[kenedy]

can a country go bankrupt due to debt burden?

[zzxxee]

i wouldnt of thought so but its an interesting thought

[ChuckFickens]

Are you planning on painting a picture, or writing a book about it then?

[sandyRoe]

Wasn't Argentina in serious financial trouble a year or two back? They reneged on their debts.

[factor-fiction]

It depends on what you mean by 'bankrupt'? If you mean can a country get in a position where it can't pay its debts then of course the answer is 'yes'. Just look at the levels of 3rd world debt which countries have no chance of paying off.

[Peter Pedant]

Oh dear people havent been very helpful

the answer is yes

and you will then ask (these are called supplementaries)
er what happened
or even what happens

In modern times (!!!) the earliest bankruptcy or thereabout was France in summer 1789 - Necker couldnt get his reforms through, and the state of France - L'etat de France I suppose - defaulted on debt repayments. One of the causes of the Fr Revolution - the cause of the deficit was France's involvement in the American war of independance.

In 1929 Newfoundland then a dominion of the Empire and not a province of Canada could not make its budget balance and renounced Dominion status. Taken back over by the Colonial Office I think. Think of this the next time you hear the British Empire despoiled the colonies, and wonder if the cash flow was not sometimes in t he opposite direction

Currently I thought Iceland was bankrupt
and Zimbabwe

and in liberated Africa, post the yoke of those villainous Brits, there are many many countries that are not functional in any meaningful way, Zim, COngo DRC, Somalia

Isnt there an economic historian out there ?

[Lardhelmet_2]

Maybe we'll find out tomorrow...

[jno]

there's a discussion here

http://rightways.word...a-nation-go-bankrupt/

Countries can borrow from the IMF. They can tax their citizens more.