will the erosion of nationalism lead to more nations defaulting?

farmer · May 6th, 2010, 2:17 pm

In business, the equity holder is the only on who really cares about defaults. If they are all tiny shareholders far away, the employees will bury the whole company for a commission.In countries, is it possible that people perceive their equity stake in their nation's finances is a smaller and smaller part of their overall portfolio?

farmer · May 6th, 2010, 4:49 pm

I had no idea I was drinking beer last night to celebrate a sovereign default:QuoteIn 1861, Mexican President Benito Juárez stopped making interest payments to countries that Mexico owed money to. In response, France attacked Mexico to force payment of this debt. France decided that it would try to take over and occupy Mexico. France was successful at first in its invasion; however, on May 5, 1862, at the city of Puebla, Mexican forces were able to defeat an attack by the larger French army.