Читать книгу Retos y desafíos de las garantías reales - Abel B. Veiga Copo - Страница 74

Speaking in terms of a credit relationship, there are obviously creditors who are ready to lend their money to states irrespective of the inherent risks. As we will see in a moment does the fact that a state cannot be subject of an insolvency proceeding not mean that such lending were a safe investment13. The need of states for borrowing money is enormous and has always been14. Running a state is a costly undertaking. Every worker, every building, every structural change needs to be paid; waging a war (this is the lesson learned from thousands of years of warfare) is extremely costly which brings us to the other side of the credit relationship, i.e. to the creditors.