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They would have austerity either way if they were unable to borrow at reasonable rates following a default.
by joonix 14y ago
They would have austerity either way if they were unable to borrow at reasonable rates following a default.
- mpweiher 14y agoFollowing a default or possibly just a Euro exit: pre-Euro rates in the late 90ies were 10-25%! http://www.stlouisfed.org/publications/cb/articles/?id=2264 http://www.stlouisfed.org/publications/cb/articles/?id=2264