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To: carranza2 who wrote (87627)	3/1/2012 10:05:22 AM
From: Cogito Ergo Sum	Respond to of 219660

It's the half dead .... principle means ... Greek debt is still half alive LOL

To: carranza2 who wrote (87627)

3/1/2012 5:05:19 PM

From: ggersh

1 Recommendation Respond to of 219660

Default (finance)

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In finance, default occurs when a debtor has not met his or her legal obligations according to the debt contract, e.g. has not made a scheduled payment, or has violated a loan covenant (condition) of the debt contract. A default is the failure to pay back a loan. [1] Default may occur if the debtor is either unwilling or unable to pay their debt. This can occur with all debt obligations including bonds, mortgages, loans, and promissory notes.