Word: defaulting
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...knew when I went down that I couldn't get up," said Laddin, "so I had to stop and default the match...
...last year, bankers considered Mexico a model debtor because it had managed, through an austerity program that restricted spending at home, nearly to catch up on its foreign bills. But the plan was beginning to break down even before two crushing blows that have pushed the country close to default: last September's Mexico City earthquake, which saddled the country with $4.5 billion in damages, and a 50% drop in petroleum prices since November...
While most bankers might concede some of those terms rather than see Mexico default, they are concerned that whatever they grant one country will be demanded by the others. Indeed, the ministers who convened at Punta del Este issued a communique demanding "significant changes in existing agreements, in particular with respect to interest rates...
...NEWSPAPER STAFF has used its editorial discretion to state that its toleration of pornography--by default, because the alternative would be worse--does not preclude protest. It has expressed the view held by many of its editors that while Playboy and other forms of institutionalized sexism may be "socially acceptable," they should...
...M.I.T. Economist Lester Thurow warns that the austerity measures that Mexico has endured to pay interest on its debt could make it politically popular for the country's leadership to repudiate the loans. Said Thurow: "What better way for the Mexicans to tweak the Yank's nose than to default on all of the debts." That could set off a financial crisis in the U.S., where many large banks still have multibillion-dollar loans to Mexico on their books. De Vries said, however, that financiers were likely to work out yet another package of new credit with the country...