Word: creditability
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...likely to evaporate, Enron-style, in a sudden financial flame out, or close up shop and flee their creditors. That's why lending money to states is considered the surest bet around. Reputation aside, however, politicians abuse their ability to borrow just like any spendthrift with too many credit cards, and often pile up more bills than they can handle. Argentina, Russia, Mexico and others have stiffed their bankers over the past 30 years. In fact, the sovereign-debt crisis goes back as far as the concept of the sovereign state. The first recorded government default took place...
According to court documents, Papadopoulos spent more than $1 million in personal credit card expenses, in addition to $515,000 on home improvements and $110,000 on Armani clothing...
...absolutely devastate the continent as a whole. In addition, blame does not lie entirely on some admittedly inept governments. While it would be hard to find a country that was managed with as little economic integrity as Greece, all of Europe’s countries had access to easy credit and were members of a very lightly regulated financial system for the last decade. No Eurozone country was complaining about the structure of the economic system when Europe was thriving in the earlier part of the decade, and therefore, everyone now bears the responsibility to save the system and change...
According to court documents, Papadopoulos spent more than $1 million in personal credit card expenses, in addition to $515,000 on home improvements and $110,000 on Armani clothing...
...given New Delhi a perfect excuse to call off the talks. But despite some pressure from opposition parties, the Indian government stuck to its program. Indian authorities have refrained from pinning blame on Pakistan for the Pune blast; there has been no official claim of responsibility. India, which wants credit for that restraint, came to the table with a long list of demands. Rao presented Bashir with three dossiers of evidence linking Pakistan to the Mumbai attacks, including a list of 34 Pakistanis wanted for various terrorist attacks in India. The dossiers and Rao's language - she talked about "unhindered...