Topic: 11 countries close to bankruptcy....... (Read 5542 times)

This is true for companies however countries are not companies. Countries have special sovereign protection and generally cannot be sued unless they agree.

Since most local currencies are not stable creditors often want loans to be denominated in terms of dollars or euros (or another major currency). In the event a country cannot pay they would not be able to "print their way" out of debt. If a country cannot pay their debt they can simply not pay it, however this would make it difficult for the country to do business in the global economy and be able to borrow in the future.

what about germany in the 2WW, France before the Revolution without FIAT money? USA prevented bancruptsy in the 80es by going into FIAT. BTC a new Goldstandard? Not possible, so new concepts have to come up.

Is your question: Can a goverment prevent bancruptsy by issuing cryptos instead? I guess, they could do that, besides fiber glass and digital wallets are still more expensive infrastracture as minting and printing. So no.

I wonder how the transition from a country that is about to collapse due not being able to EVER pay fiat debt, get BTC as the official coin? how would this transition happen effectively?

In rules of court, the company is only bankrupt if they declared it or being sued for it in the event that they are not able to repay the debt.

If those countries can continue to borrow, they can keep delaying the inevitable by kicking the can down the road.

The list is incomplete. Many more countries in Europe, Africa, and even the US are close to bankruptcy.

Moreover, Argentina, Belize, Greece, and Cyprus are not only close to bankruptcy, they are bankrupt already, because they could not repay their bonds in full. Of course it is unlikely that any country will ever officially admit that it is bankrupt.

ya.ya.yo!

True, but can BTC going by its present trends revitalize these economies world wide if totally adopted.

I'll know when the world is maybe changing when USA is somewhere on lists like this people make.     Its not even feasible in peoples minds at the moment.
   I mean we could still have Lehmans trading in theory, if they had just got the same finance from their creditors it would not be a problem for them but they got caught out and it was bad luck and of course awful company operation.   USA needs that debt so badly, it can switch to a nasty situation very easily and only massive export production could counteract that kind of effect.  

Not  just USA but any country with over 100% debt vs their GDP.  Japan has a debt problem, their government would go broke but Japanese businesses still bring alot of money to the country, because of that their government siphons off value by issuing more currency.
Also Japan has 1 trillion of USA debt so maybe people should look at this list above and see how much dollars or bonds they hold, its possible they would flush out problems elsewhere as did the Lehman effect

Ecuador and Venezuela have massive oil reserves.   They arent bankrupt with such big assets per capita, more like insolvent perhaps and if it was a company it would reorganised to strip out the wasteful parts like excess bloated government which is not profitable to a country or its people

Theres nothing in EURO that prevents bankruptcy from excess spending.   The real dynamic is these are small countries so the stain they would leave behind on the remaining members is worth avoiding for relatively little cost.   If France were to trip over in a similar fashion and it does have problems, then Europe cannot save them.    Consider that Greece is unable to support others, it has not recovered and the debt it has will be there for decades.    Other nations are similarly weak. 
 If you told me the solution given was an immunity type cure, Greece could be scaled up and so France or similar large failure would supported by previous success then I could see it but nothing was resolved

If countries borrow in other currencies they can default and be bankrupt.  Argentina has done this and other nations as well.  However, usually the debt is just restructured.

Just let them go under. Make the banks and creditors take a haircut.

It is simple you cant live over your possibilities. Once country reach that they need to work half year to just pay off their old debts, they have to think what they do a lot. Their children's will have to pay interests on their easy life now. Unless they will decide to leave your in debt country and go live somewhere where today dont live over their possibilities.

They cant bankrupt. Unless they decide so by theyself. They are part of EU. Things was not set perfect 5 years ago, but soon will be. But those 2 countries always had chance to 100% avoid bankruptcy.

Countries close to bankruptcy: its simple, adopt BTC or DIE.

Corrupt politicians will just spend the money there is. You cannot dissuade them.

Adopting a decentralized currency could calm some of the political instability. If the government cannot print money at will (and spend as much money via printing additional money) then there will be less reasons for corrupt politicians to try to come into political power in the first place. 

it's banks fault, they know that it was coming, and they did nothing, hope those bank can fuck off and accept bitcoin as a universal payment.
they should come up with a alternative inflationary/deflationary system

How would that be different in BTC, where you have greed of early adopters controlling tens of thousands of BTC and effectively being able to manipulate currency acting as central banks?

A better way would be some sort of PoS crypto split equally between all countries according to their population numbers, or even better, split equally between all individuals.

But both plans are utopia anyway, not worth writing a few words about.

No they are no going to be completely bankrupted just a fluctuation on their economy on regards to their countries political ecosystem

Right. If the country can not manage their own currency, converting it to bitcoin will not magically solve their problems.

The county needs live within its mean and pay off their external and internal debt. Produce something the rest of the world want.

Exactly,a country's falling economy has certain conditions,say political instability or due to ongoing conflicts.Adoption of decentralized currency wouldn't do any good

Argentina is in default but they still have tax revenue and foreign country reserves. The only real difference between pre and post default argentina is the fact that they no longer have access to the capital markets, but they already really did not have access because of their known unwillingness to honor their debt.