What happens after a country goes BANKRUPT ? 

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00:00 Introduction
01:05 What is bankruptcy
02:04 How countries go bankrupt
05:57 What happens after Bankruptcy
We hear many times that a particular country has gone bankrupt. But why it happens. More so, why it happens? What are the conditions leading to bankruptcy. Excess expenditure, wastage of resources are some examples.
When countries cannot pay the loan taken from external lenders, they declare bankruptcy and then starts a cascading effect of downfall of the economy. But how doe countries come out of this? by seeking external bailout packages.
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