Very long term federal debt that has no date for redemption like UK First World War bonds and U.S. Revolutionary War debt depend on good public credit.
Our Weekly Roundup: From Argentina to North Dakota
Today’s weekly roundup includes the everyday economics of sovereign debt defaults, oil boom towns, athletes’ labor markets and the GDP.
Argentina's (Long) Default History
With Argentina again defaulting on her sovereign debt, she is violating the sanctity of contracts and lessened her borrowing ability at home and globally.
Greece Again?
With more austerity resistance to government spending cutbacks, Greece could again be heading for a sovereign debt default and a bailout.
