Debt crises
vendredi 17 juillet 2015 à 02:00Many countries are suffering from debt crises.
The current international system, designed to make states repay loans no matter what the cost to the people, creates a moral hazard: lenders are too ready to lend money, even for dictators to steal, because they assume there is no way the state can get rid of the debt.
Haiti was crushed for a century by a debt imposed by France in exchange for recognizing Haiti's independence.