Timeline for If I don't pay a debt, then the creditor takes my goods. Why, then, do Greek creditors not take Greece?
Current License: CC BY-SA 3.0
6 events
| when toggle format | what | by | license | comment | |
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| Aug 13, 2016 at 4:20 | comment | added | Fix.B. | that sentence "is what is known as an act of war" is well written, explicative. | |
| Jul 16, 2015 at 19:48 | comment | added | dismalscience | If creditor states were to attempt to seize Greece's domestic assets by force (to be clear: there has never been any suggestion that anyone would do so), that would constitute an act of war. This is the real-world fact of most sovereign debt— the most you can do (with the exceptions noted in the main answer) is ask nicely for repayment, and encourage others to not lend to countries that default. If a country decides to default on its domestic-law debt, there's no further recourse available to creditors, because the exact entity that would enforce the contract is the one that is defaulting. | |
| Jul 16, 2015 at 19:33 | comment | added | BCLC | 'act of war' -- don't understand. Are creditors the aggressors of the 'war' as if they are a state of their own? | |
| Jul 8, 2015 at 7:49 | comment | added | Stan Shunpike | This is a great answer! | |
| Jul 7, 2015 at 21:58 | vote | accept | Alberto Fontana | ||
| Jul 7, 2015 at 17:24 | history | answered | dismalscience | CC BY-SA 3.0 |