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Not really. A default will set any economy far back. You also risk unrests what with pensions cut and similar effects. Look at Greece, they went through hell
by quickben 9y ago
Not really. A default will set any economy far back.
You also risk unrests what with pensions cut and similar effects.
Look at Greece, they went through hell just not to default (again).
- kryptiskt 9y agoA large part of Greece's problem is that they're in the Eurozone and don't have any control over their monetary policy.
- selectodude 9y agoGreece is the only developed nation to default on an IMF bond payment and negotiated a 50 percent haircut on their bank-held debt. They definitely defaulted.
- cryptonector 9y agoI wasn't suggesting we default. Besides, countries that only borrow in their own currency can... "default" by inflating (and they do it all the time), so they never actually default in the sense that you have in mind.
- fjsolwmv 9y agoInflation is simply a partial default.
- cryptonector 9y agoYes, of course.