generic-user-1 said:
the gdp took 5 years to get back to the pre cisis level. and argentina had a lot more problems before the crash and default. the debt level doesnt matter if you default you dont pay your debt, and this will be alot easyer for greece because basicly just the imf, the EU, the ecb and greek bank own the bonds. the government doesnt need new funds, they are in the black when you dont count the interrest for the debt. |
You are kidding yourself, if anything the Greek situation is worse. The instant they default will see a massive decline into recession (Actually that has already started) so no more being in the black. They will need to change currency as unlike Argentina they don't have monetary controls to use as a lever. Greece will sink a long long LONG way from where they are now before they even begin to recover. If what you suggest was true the Greek government would have walked away from their obligations long ago. many will go from poverty to extreme poverty and the government won't have the funds to do anything about it.
