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Mechanics are totally different. Greece defaulted on government debt. Turkey is mostly struggling with private sector debt. The volumes of debt are also very d
by enraged_camel 8y ago
Mechanics are totally different. Greece defaulted on government debt. Turkey is mostly struggling with private sector debt.
The volumes of debt are also very different. Greece had a LOT more debt when they defaulted.
- gokhan 8y agoWe can also create a crisis caused by government's debt equally well, see Turkey's 2001 crisis: https://en.wikipedia.org/wiki/2001_Turkish_economic_crisis https://en.wikipedia.org/wiki/2001_Turkish_economic_crisis