1.   A depreciating markka would have little effect on current debt payments, because the government debt has an average maturity of more than five years, he said.

2.   All Indonesian corporate debt also has a junk rating.

3.   Credit card debt also had a big jump.

4.   Debt had more than doubled, he said at every opportunity.

5.   Debts have a powerful effect on people.

6.   Even the biggest debt only has to be paid once.

7.   For domestic investors, emerging-markets debt also has an advantage in portfolio diversification over junk bonds, which are its rival for high yields.

8.   If they are unable to pay, the debt would have to be paid by Adelphia.

9.   Outstanding bond debt still would have to be repaid, which means that taxpayers would be paying two school taxes, at least temporarily.

10.   Regional banks, whose non-performing debts have yet to be fully disclosed, could also face a wrenching process of consolidation.