[German Version]

If a debtor can no longer make the amortization and interest payments (“debt service”) for which he or she is obligated under a credit agreement, then one may speak of a “debt crisis.” In recent decades, the public has been especially aware of the debt crisis of the developing and emerging countries (Third World). This has both internal and external causes: the mismanagement of investment projects financed with foreign credit; a failed economic policy that undermined the profitability of private investment projects; an increase in the international interest rate (Inte…