Sentences with phrase «prevented bond defaults»
Besides the non-parallel rating systems between local and the international standards, the implicit government guarantees prevented bond defaults, which had made it difficult to analyze the true underlying credit risk.
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The idea of debt amnesties was to prevent debt from tearing society apart — to prevent the kind of crisis that the United States has been in since 2008, when President Obama didn't cancel the junk - bond debts, or the debts that tore the Greek economy apart — when the IMF and Europe imposed them on Greece instead of letting it default on debts owed to French and German bondholders.