One should understand also that the notion that someone will lose if debts go unpaid is true only if the debts can be repaid. Every single day London banks are writing off debts that British citizens or companies cannot pay. They accept the reality that a certain portion of their loans will not be paid. Debtor countries owe a very small amount com-pared to the size of the world economy, but an amount that is crushing for them. Adobe Acrobat 3.0 or above required.
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