Considering Greece has been in default for about half of its modern existence (since the early-mid 19th century) and still has been able to lend - I think the d

Considering Greece has been in default for about half of its modern existence (since the early-mid 19th century) and still has been able to lend - I think the danger of not being able to lend is nil. Also note that most of the contracts is not between states but between citizens, banks and other companies. As for wars - forcing sovereign nations to pay debts in currencies they cannot pay is also a way to get wars. The post WWI war reparations and how they paved the way for Hitler[] is a good example of this. [] Godwin, but I do think the example is relevant.