Bankruptcy. Defaults on its debt. Many states may be declared bankrupt because of the ungodly medical benefits of debt.
The next wave of dominance credit evil befell the financial world. If before all the buds were flying toward the mortgage and bad credit, the current situation proves the underlying problems.
Debts on a national scale were established for decades and it will be impossible to repay them. Declare a default for all countries indiscriminately? Most likely, it will be. Sovereign debt in most developed economies in the world can exceed 300% of GDP by 2050 compared with the forecast rate of 2010 to 64.5% if the government did not undertake adequate reforms in the context of an aging population, said the international rating agency Standard & Poor`s.