Debt Crisis
/ˈdɛt ˈkraɪsɪs/
Definitions
- (n.) A situation in which a country or entity is unable to service its debt or faces severe financial distress due to excessive debt.
The government's failure to meet its bond obligations triggered a national debt crisis.
Forms
- debt crisis
- debt crises
Related terms
See also
Commentary
The term often arises in sovereign finance contexts where legal frameworks for restructuring or enforcement of debt obligations become critical.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.