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I believe James is right on several points: especially when it comes to news, fear sells a lot. Regarding Greece, a default would be more a political problem r
by giusemir1978 15y ago
I believe James is right on several points: especially when it comes to news, fear sells a lot.
Regarding Greece, a default would be more a political problem rather than an economical one: European Union is a loosely tied bunch of states with conflicting interests such shock could shake them apart even further.
- jpdoctor 15y ago> Regarding Greece, a default would be more a political problem rather than an economical one It's both. He cleverly ignores the real issue: Whatever happens in Greece is going to set the precedent for Portugal, Spain and Italy. Or to put it another way: The only way to save Greece is to give them a pony. Then everyone is going to want a pony.
- giusemir1978 15y agoAgreed for portugal and spain. Regarding Italy, we have a too big debt to repay. Either we make it or break the european union alltogether. I dont believe France and Germany are going to give us a pony, nor I believe they have the funds to do so :-(