Ecuador is to default officially on billions of dollars of foreign debt it considers "illegitimate", says President Rafael Correa.That's OK, we'll just repossess Miss Ecuador: Call it a down payment on that "illegitimate" $10 billion.
Mr Correa said he had given the order not to approve a debt interest payment due on Monday, describing the international lenders as "monsters".
The president said that some of Ecuador's $10bn debt was contracted illegally by a previous administration.
The Future Belongs to Those Who Show Up, Catholic Edition
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These things he said while teaching in the synagogue in Capernaum. Then
many of his disciples who were listening said, “This saying is hard; who
can accept...
3 hours ago
So, what if we simply quit lending to countries without functional economies?
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