From Spain in 1557 to Lebanon in 2020, hundreds of countries have either defaulted on or restructured their debt throughout history. Countries can behave differently during their default. It is a complex topic and is dependent on a large number of factors. The fallout from these defaults has varied from a non-event (such as with a technical default) to a significant drop in their economy with profound long-term effects that are still ongoing to this day.
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Welcome to the Economics Channel (EC)! Economics Channel is a Youtube channel dedicated to the economy, created with the aim of addressing economic and political issues in an impartial, constructive and accessible way. With great respect for the intellectual honesty of each of us, on my channel you will find videos, insights and reviews in the economic field written in the spirit of free speech and open debate.
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Source:
Joseph Stiglitz – Globalization and Its Discontents
Mark Blyth – Austerity: The History of a Dangerous Idea
#economy #default
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