英语词汇“sovereign default”的翻译、意思、用法、释义-英汉经管词典

单词	sovereign default
释义	sovereign default Definition The failure of a country to fulfill its financial obligations. Since countries are not subject to bankruptcy laws, they can escape liability without any legal penalties. However, sovereign defaults are rare since it will be more expensive to borrow funds after a default. One of the causes of a default is economic crisis.
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