The OED has some trouble deciding whether it’s ‘welching’ or ‘welshing’ but the generally accepted origin comes from english debt collectors making disparaging remarks about those backward oiks in the principality. What i mean is, the term as used now might not be disparaging to welsh people but that is its origin and makes me wince every time i hear it. Just use ‘reneging’ instead (not that i’ve seen people use the former on here).
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