They were given a helping hand from the government, which paid subsidies to the lenders and guaranteed them against default.

In Greece's case, it costs €6m each year to insure €10m against default.

In order to protect itself against default, the bank asks for strict collateral.

But that protects only against default by homeowners, not declines in market value.

The insurance, intended to protect a lender against default, typically costs $25 to $80 a month.

In finance these are conditions imposed on loans and bonds to protect lenders against default.

Where to call The following companies sell insurance to protect against default by tour operators, airlines or cruise lines.

For the latter the risk was high and he took even more stringent steps to protect himself against default.

Fourth, what on earth is meant by the following six words: "insuring Greek government debt against default"?

These cost more than the cruise companies' policies, and they protect against default.