[chgs]

So country A pays 3% to country b, who pays 3% to country c who pays 3% to country A

[nkmskdmfodf]

What happens when country A can't pay?

[selectodude]

https://en.m.wikipedia.org/wiki/European_debt_crisis

Everything old is new again.

https://www.youtube.com/watch?v=OrhJcqgXrlw

[cannonpr]

Very bad things, or maybe very good things, depends on your perspective, a reset in any case and a restructuring of debt, usually just after a crash.

[scott_w]

Which isn’t free either. Consider the interest levels of countries considered unstable vs those considered stable (UK/US compared to Türkiye/Argentina for example). It massively changes what actions the respective governments can take.