TERMIUM Plus^®

Record 1,  Textual support,  English

Record number: 1, Textual support number: 1 CONT

Wharton is a powerful symbol of where our country went wrong in the 1980s. It was here at Wharton that Michael Milken got the idea to use junk bonds to leverage corporate buyouts--a quick-buck scheme that was supposed to shake up failed management but too often forced corporations to lay off workers in formerly profitable plants, reduce R&D, and ultimately to go bankrupt or sell out again under the crushing burden of unserviceable debt.  2, record 1, English, - unserviceable%20debt

Record number: 1, Textual support number: 2 CONT

Even the stronger enterprises were not immune from the problem of unserviceable debt as the state had in the past arbitrarily absorbed their profits and forced them to build up a large stock of debt.  3, record 1, English, - unserviceable%20debt

Record number: 1, Textual support number: 3 CONT

Total Third World debt is in the hundreds of billions, piled up under the auspices of the World Bank and sister agencies when they were attempting to impose their brand of global statism on any country desperate or corrupt enough to accept the money. The majority of these loans are unlikely to be repaid, especially those to the poorest nations. This creates a problem for the people who run the World Bank, a band of bureaucrats who for years claimed that their lending practices were sound and that their loan default rates were low. What the loans did, aside from provide tax-free employment opportunities for thousands of World Bank credit officers, was create scores of nations with large, unserviceable debt burdens.  3, record 1, English, - unserviceable%20debt

Record 1,  Textual support,  French

Record 1,  Textual support,  Spanish

Record 2,  Textual support,  English

Record number: 2, Textual support number: 1 CONT

A succession of current account and trade deficits have pushed foreign debt to unserviceable levels. Despite 1992 Paris Club rescheduling and the possibility of bank rescheduling this year, Bulgaria's balance of payment remains extremely weak. Foreign credits are almost unobtainable.  1, record 2, English, - bank%20rescheduling

Record 2,  Textual support,  French

Record number: 2, Textual support number: 1 CONT

Une série de déficits de la balance commerciale et du compte courant on fait grimper la dette extérieure à un point tel que le service ne peut plus en être assuré. Malgré le rééchelonnement par le Club de Paris en 1992 et la possibilité d'un rééchelonnement bancaire en 1993, la balance des paiements de la Bulgarie demeure extrêmement faible. Il est presque impossible pour ce pays d'obtenir des crédits à l'étranger.  1, record 2, French, - r%C3%A9%C3%A9chelonnement%20bancaire

Record 2,  Textual support,  Spanish