Think of this as Volume 16, Number 20 of A-Clue.com, the online newsletter I've written since 1997. Enjoy.
For creditors it seems sisyphean. You make loans, you make money, but then debtors can take you out for a pittance through bankruptcy. That's the risk. You loan too aggressively and, just when you think you're about to take the pot, it's snatched away from you. Game over, start again.
What we need to understand is that countries and, in fact, the whole world, plays this game, and that not only does it not end but that it never should. Which means there has to be a way to re-start the game when the debtor cries uncle.
There has to be a method for national bankruptcy that re-starts growth.