December 1990
National Review;12/17/1990, Vol. 42 Issue 24, p43
Opposes the argument that foreign debts, such as those incurred by Third World countries, should be written off. Responsibility of the borrowing country rather than the bank for the debt; Possibility of massive defaulting that could lead to bank failures or collapse of the financial system; Options for paying off debts, including offering equity stakes in state-owned corporations and territory-for-debt swap.


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