main street is that the risk of actual default doesn t become a reality now until the summer, as it stands. if that ceiling were to be breached, the u.s. runs out of money to be able to fund its obligations, that would affect social security and medicare benefits to tax refunds, military salaries and interest payments on outstanding national debt, which hurts anyone invested in government bonds. technically, in 1979, the u.s. did default on its debt. it was a bookkeeping glitch that resulted in delayed bond payments that affect a small group of investors. the u.s. has never intentionally defaulted. we don t truly know how this were to play out if it were to happen. it would be a very grave situation. it would send serious shock waves through the global financial markets and institutions and potentially according to some economists trigger a very severe recession. it s unlikely this is going to happen. but it s all of those question marks around, when do we get to
$2 billion for building infrastructure. and just a few years ago that they switched over to propane system. the virgin islands used to burn any oil for the producer of electricity. but what happened is they stop making their bond payments on the system, and they are looking for basically a handout. they see what the administration wants to do with wind and solar. basically they want the electrical grid for free. ashley: neil and want to talk about the wall street journal op-ed on the electric grid. emergency. the grid is supposed to be resilience but the governments for green energy transition with systemic vulnerabilities that politicians don t want to acknowledge. utility and grid operators were not prepare for the surge of natural gas and electricity to heat homes, which occurred as gas supply shortages. i seek temperatures forced power
The company, one of China’s top home sellers, redeemed a 1.5 billion yuan (US$207 million) bond due this month, according to a late Wednesday filing with the Hong Kong exchange.
to international creditors. earlier today, bloomberg news reported that. russia says it hasn t defaulted. here s kremlin press secretary dmitry peskov. translation: in fact, these attempts will amount to outright theft, - and these us claims about default are devoid of any legality. russia made the required bond payments and currency due in may. and the fact they had been blocked by euroclear and didn t come to the recipients is not our problem. in this case, there s no reason to call the situation a default. well, for more, i m joined by yannis manuelides. he s a senior council with the law firm allen and overy. he s an expert in these matters, thanks very much indeed forjoining us. so help us understand a little further if russia has the money, why is it the sanctions prevent that money from being given to the