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ButterflyEffect  ·  1771 days ago  ·  link  ·    ·  parent  ·  post: Croatia votes to scrap debt of its poorest citizens

    The government will not pay the debts; the creditors will simply absorb them.

What are the consequences of this? The people have their debt relieved, the creditors lose out on money, but how will this affect the government or future borrowing from it's citizens?