We will see a huge surge in municipal debt defaults.

一个巨大的市政债券违约浪潮。

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JP Morgan statisticians knew that company debt defaults are connected.

摩根大通的统计专家认识到，公司债务的违约是相关的。

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Greece, with its long history of debt defaults and bouts of high inflation, was the most striking example.

历史上长期存在债务违约并经常发生高通胀的希腊就是最明显的例子。

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Yet collective-action clauses will not make much difference to the way debt defaults are actually handled.

ECONOMIST: IMF/World Bank meetings

And in 1986-1989, when Mr Greenspan made his debut, a rash of debt defaults followed.

ECONOMIST: The Fund's golden Rato

Yet there are few sanctions, even in theory, in the case of government-to-government debt defaults.

ECONOMIST: Russian debt: Promises, promises | The