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Bankruptcy on a big scale

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Golem | 23:17 Thu 13th Apr 2006 | Business & Finance
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Can a country declare itself bankrupt and if so, what are the consequences?
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I suppose they could, but they never do. What would be gained?


Look at the USA today - $trillions in debt, and no prospect of ever paying it back! Technically, they are bankrupt.


And Weimar(?) Germany; they 'went bankrupt' - just said 'we aren't honouring Marks any more, we have this new currency to replace it'.

12:38 Tue 18th Apr 2006

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