High interest rates and a drying up of credit in turn mean more companies are unable to repay debt.
In the early 1990s banks shuddered as collapsing stock and land prices left swathes of customers unable to repay loans.
About 10% of South Koreans are unable to repay money they owe.
Assuming the worst case comes to pass, and Jessica leaves school unable to repay her loan in full, her mother will face some very tough choices.
Kingfisher, founded in 2005 by Mr. Mallya, who made his fortune selling liquor and beer, hit headwinds after it was unable to repay its lenders.
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When the underlying mortgage holders were unable to repay their debts, the investments plummeted in value, with disastrous consequences for banks all over the world.
They have in effect written off part of this loan, tacitly admitting that Fiat will be unable to repay it when it comes due in 2005.
With underemployed graduates and dropouts increasingly unable to repay loans, state legislatures cutting appropriations, and innovative competition making inroads, the bubble appeared ready to burst, or at least deflate.
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The bolder sort of investor may reckon that the high yields on offer are ample reward for the risk that Greece may be unable to repay all it has borrowed.
There are very few governments in the world who would not find themselves unable to repay their debt, given a sufficiently high interest rate, for a sufficiently long period of time.
Clinton's campaign was unable to repay that personal loan by the time the Democratic National Convention convened in Denver, Colorado, in August, the deadline mandated by the 2002 McCain-Feingold campaign finance law.
The property boom had been fuelled by massive lending from the banks, and when this collapsed - and lenders were unable to repay - the Irish banking system was plunged into crisis.
The banks are suddenly aware of what economists call "counterparty risk, " the risk that the banks to which they might lend money might turn out to be in bad shape and unable to repay.
Charity campaigners have argued that all aid to Africa should be in the form of grants rather than loans, as most sub-Saharan African countries are unable to repay their existing debts to Western institutions.
What it means is that if the money were to come from the ESM, existing and future commercial lenders to the Spanish government would rank behind eurozone governments in the event that Spain was unable to repay all its debts in full.
If Clearwire is unable to repay the PIK Debenture during this 30 day period, it would be entitled to convert the principal amount and accrued interest on the PIK Debenture into a note on terms comparable to the 2015 Senior Secured Notes previously repaid, having a maturity of December 1, 2015.
The bad news is that 2012 is the year of greatest risk that a bloated bank or over-extended government will be unable to repay its debts - because it is a year when a frightening volume of the loans that were taken out in the boom years fall due for repayment.
But if it was a big bank, and if it was nationalised by a government such as Spain or Italy already perceived by many to have unsustainably large debts, then there could be serious contagion from the credit-worthiness of the bank to the credit-worthiness of the state: there would be an escalation of concern that the relevant government would be unable to repay everything it owes.
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