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Greece will not manage to get back on its feet without restructuring its debt. There is no way around it. The country's creditors will have to reduce a portion of its debts by extending maturity dates, lowering interest rates or giving them what's called a 'haircut' in financial jargon.
The unjustified swelling of the budgetary deficit and the accumulation of public debts are just as destructive as adventurous stock-jobbing.
It is incumbent on every generation to pay its own debts as it goes. A principle which if acted on would save one-half the wars of the world.
We tend to focus on assets and forget about debts. Financial security requires facing up to the big picture: assets minus debts.
Small miseries, like small debts, hit us in so many places, and meet us at so many turns and corners, that what they want in weight, they make up in number, and render it less hazardous to stand the fire of one cannon ball, than a volley composed of such a shower of bullets.
The grandchildren should not bear the debts of the grandparents.
Nassim Nicholas Taleb
We believed it was better to pay as you go than it was to pay your bills by borrowing and laying up debts for another day. To pay as you go, that policy is a safer business policy and a saner business policy, and we thought it was a saner national policy.
I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years.
When debts are not paid because they cannot be paid, the best thing to do is not talk about them, and shuffle the cards again.
Camilo Jose Cela
Debt vultures are really the scum at the bottom of the pond. These are guys who buy up the debts of the world's poorest countries on the secondary market. You can go buy debts of a country like Peru, for example, at a real discount. Why? Because people think that the debts won't be repaid.
I'm a strange mixture of my mother's curiosity; my father, who grew up the son of the manse in a Presbyterian family, who had a tremendous sense of duty and responsibility; and my mother's father, who was always in trouble with gambling debts.
Is there any reason why the American people should be taxed to guarantee the debts of banks, any more than they should be taxed to guarantee the debts of other institutions, including merchants, the industries, and the mills of the country?
Someone has to pick up the tab when people get out of repaying their own debts.
What charitable 1 percenters can't do is assume responsibility - America's national responsibilities: the care of its sick and its poor, the education of its young, the repair of its failing infrastructure, the repayment of its staggering war debts.
Some debts are fun when you are acquiring them, but none are fun when you set about retiring them.
Countries that need monies so that they can provide health care and education and shelter to their people shouldn't have to repay debts that we knowingly lent to bad regimes long since gone; and all illegitimate debts - debts lent to these terrible dictators like Saddam Hussein, like Suharto, like Marcos - must also be canceled.
America pays its bills. It always has. It always will. The fact that Washington is now debating whether to honor its debts and obligations, then, should come as a surprise. But playing political football with a necessary vote to raise the nation's debt ceiling has become as predictable as a Twitter rant from Charlie Sheen.
Debts and lies are generally mixed together.
It is very iniquitous to make me pay my debts, you have no idea of the pain it gives one.
Small debts are like small shot; they are rattling on every side, and can scarcely be escaped without a wound: great debts are like cannon; of loud noise, but little danger.
Speak not of my debts unless you mean to pay them.
Even if you were to fall into extreme financial hardship and file for bankruptcy, you need to understand that your student loan debt will not be discharged in bankruptcy. It is the Velcro of all debts.
I mean, I'm a conservative. I believe that, you know, if you borrow too much, you just build up debts for your children to pay off. You put pressure on interest rates. You put at risk your economy. That's the case in Britain. We're not a reserve currency, so we need to get on and deal with this issue.
The more we get out of the world the less we leave, and in the long run we shall have to pay our debts at a time that may be very inconvenient for our own survival.
Many a poor soul has had to suffer from the weight of the debts on him, finding no rest or peace after death.
C. S. Lewis
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