Hi guys! I hope you are having fun with this game. I have been learning how to mod the game quite well and I am having a lot of fun. However I am now developing a dilemma (which in my opinion should be already part of the game) which basically is activated when the Debt to GDP skyrockets. The dilemma consist in the decision on wheter or not to default on the whole debt. I made it quite realistic and it seems to work partially. Below you can find the whole script:
[dilemma]
name=GovernmentDefaultonDebt
guiname=Government Default on Debt
description=Our level of government debt is completely out of control and it has got to an unsustainable level. The government debt has pushed interest rates so high that the whole economy is in a catastrophic situation. The high interest rates make very difficult to restore a healthy economy without a government default. However, if you decide to default on the debt, the banking system and the investments made by people would be completely wiped out and the pain in the short run would be immense.
[influences]
0 = default,0.0+(0.0x)
1 = DebtCrisis,0.0+(0.3x^2)
2 = effectivedebt,0+(2.8*x^4)
[option0]
Name = Default on Debt
Description = The government fiscal balance has gone completely out of control. The high interest rates are crowding out the private sector and destroying the services to the people provided by the public sector. Even though this will be painful in the short run, investors should know the risk in investing in the financial markets and whenever someone is soffocated by debt the default is the only way out!
OnImplement = CreateGrudge(Government Default on Debt,GovernmentDefaultonDebt,“effectivedebt”,-1,0f);CreateGrudge(Government Default on Debt,GovernmentDefaultonDebt,All,-0.3,0.85f);CreateGrudge(Government Default on Debt,GovernmentDefaultonDebt,Capitalist,-0.8,0.75f);CreateGrudge(Government Default on Debt,GovernmentDefaultonDebt,Retired,-(0.9),0.9f);CreateGrudge(Government Default on Debt,GovernmentDefaultonDebt,BankingSystemHealth,-(0.8),0.9f)
[option1]
Name = Do not Default
Description = We cannot put at risk our international credibility by defaulting on our debt. Things are not rosy but a default on our debt would bring such a degree of uncertaintly which we cannot suistain.
OnImplement = CreateGrudge(Government Not Defaulting on Debt,GovernmentDefaultonDebt,Capitalist,0.2,0.75f)
The ones among you who know how to manage these things know for sure that the feature which should cancel the debt is CreateGrudge(Government Default on Debt,GovernmentDefaultonDebt,“effectivedebt”,-1,0f)
The funny thing is that it actlually works partially. Basically interest rates go to the minimum (Credit Rating AAA) and it seems that the game “believes” the debt has been reduced, however it is not displayed so as the debt is still the same. So effectivedebt brings interest rates to a minimum but does not eliminate the debt.
The question is WHY? 
How can we cancel the debt?
Sorry for the long post xD and hopes you are going to find the solution as this feature makes the game much more realistic.