Talk:1590s in England

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External links modified

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1594 sovereign debt default

According to the financial history book This Time Is Different (2009), by Reinhart and Rogoff, the English government defaulted on its debt in 1594. This is significant as it is the last time England (later Britain) engaged in an outright, unilateral sovereign debt default (as opposed to pseudo-defaults like inflating the debt away or rearrannging the the debts such that interest payments are somewhat reduced). It is therefore worthy of inclusion under that year, but unfortunately the book has no more information on it and I can find nothing online. If anyone knows more, specifically what caused the default, then it should be added. LastDodo (talk) 11:02, 14 July 2022 (UTC)[reply]

Just to correct, there have been two defaults since then: in 1672, the 'Stop of the Exchequer' and in 1934 when Britain ceased making payments on its WWI debt to the USA. LastDodo (talk) 17:53, 10 September 2024 (UTC)[reply]