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...Last year, RCR Tomlinson, a Sydney-based engineering company, collapsed owing A$630m to creditors after its expansion into renewable energy via contracts worth A$1.5bn to build 15 solar power farms....
...Many banks would have difficulty repaying even a small fraction of their creditors at any one time....
...They add: “We should not deceive ourselves: we are less a village of Gauls resisting globalisation for ideological reasons than a society of creditors that defends its individual interests.”...
International Edition