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The rating is only concerned with whether he country will pay back it's debt on terms. Only paying back 99% is a binary default. Italy uses the Euro, which it d
by euroclydon 15y ago
The rating is only concerned with whether he country will pay back it's debt on terms. Only paying back 99% is a binary default. Italy uses the Euro, which it doesn't own. The US owns the dollar. The Treasury could mint $1B coins today and sell them to the Fed for the cost of the metal.
http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100011099/the-kabuki-theatre-of-americas-debt-ceiling/ http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/...