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When a country goes bankrupt, there are fewer rules to return to solvency as there are when a citizen or corporation goes bankrupt.
Believe me , if a country can really go bankrupt , it must be a good thing for all citizens . At least , they can stand up to face the problem to release their pressure rather than take out more loads from overseas . unlike some countries to Fake bake , they are still accumulate more debts to the next generation .
back to your issue on how a government will do once they were bankrupt , I think if this government can admit they are already bankrupted , that implies they can address this problem and they will cost down unnecessary expenditure of public sectors at first. Subsequently , they would plot a scheme to take out loans from foreign countries . Rememeber , a country or a company which will not bankrupt is the most dreadful thing in the world.