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http://en.wikipedia.org/wiki/Third_World_debt
To me, the whole issue is fraught with complexities. I would consider it highly unfair to simply cancel the debt. Just because a country isn't in a lot of debt, it doesn't mean that it doesn't need financial help. How would you feel if you had scraped through for ages and finally paid off a bank loan, just to hear that the bank is cancelling all debts?
However, the position that 'it's their own damn fault' doesn't hold water either. The money, in many cases, was borrowed by previous governments. Just because those leaders couldn't plan ahead, should the current inhabitants be burdened with an unpayable debt?
Actually, that brings to mind a question I have: if your parents amassed debts, would you inherit them after their death? That seems particularly unfair to me.
Your thoughts welcome.
To me, the whole issue is fraught with complexities. I would consider it highly unfair to simply cancel the debt. Just because a country isn't in a lot of debt, it doesn't mean that it doesn't need financial help. How would you feel if you had scraped through for ages and finally paid off a bank loan, just to hear that the bank is cancelling all debts?
However, the position that 'it's their own damn fault' doesn't hold water either. The money, in many cases, was borrowed by previous governments. Just because those leaders couldn't plan ahead, should the current inhabitants be burdened with an unpayable debt?
Actually, that brings to mind a question I have: if your parents amassed debts, would you inherit them after their death? That seems particularly unfair to me.
Your thoughts welcome.
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