Interestingly enough , there comes a point when a debtor nation , becomes stronger than a lender nation . THis is because IF the lender nation DOESNT continue to loan , its economy will collapse , because they have too much invested in the debtor nation , so if one falls ………….they all do . We are seeing that play out in the EU now . We cant afford to piss off China and others too much at this point , and they cant afford to let us default .THat is why Greece should have stuck to their guns and not caved in , the Commies in Germany would have been forced to relent , had they dug in and waited . Once a lender nation allows the situation to get past the point of the debtor nation’s ability to repay , they are screwed . Typically , debts are nullified , by either the countries government changing hands , or war between those countries . Default is inevitable , all the around the world .