Essentially, you're taking the full amount you've been paying (minimum payment plus extra payment) and applying it on top of the next debt's minimum payment. (studentloanhero.com)
As you pay off one debt balance you'll tackle the next debt with all applicable funds and continue this «snowball» effect until you're debt free. (studentloanhero.com)
Even if a country just announced it was planning to do this, it would be a massive bargaining chip in the next debt negotiations - they might get much easier terms, or large parts of their debt erased, if they agree to cancel their plans for now. (politics.stackexchange.com)