SamuelRSmith said:
Soleron said:
I want those countries to default immediately (actually I want the US and UK to default as well). Nothing would be worse than it is now but we would be free of debt. |
Default wouldn't do much good when you're still running a deficit, as you simply wouldn't be able to borrow the money to fund that deficit... which means it'd be entirely done through printing money. US and UK defaults would kill the financial sector, which will hurt savers and pensioners the most (and a hell of a lot).
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I agree on the effects, but I would prefer that to ignoring the problem as is done now. No one's plan includes realistically balancing the budget or paying debts off, so we are just avoiding it until an inevitable forced default of many of these countries months or years down the line.
