A column in the Wall Street Journal notes that every heavily indebted country weighs the cost of
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A column in the Wall Street Journal notes that “every heavily indebted country weighs the cost of repaying debt against the loss of confidence and creditworthiness that default entails.” Whose confidence is an indebted country afraid of losing? What might be the consequences of losing that confidence?
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Related Book For 
Money, Banking, and the Financial System
ISBN: 978-0134524061
3rd edition
Authors: R. Glenn Hubbard, Anthony Patrick O'Brien
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