Europeans Are Thinking the Unthinkable: That Debt Defaults Might Make Sense


By Michael Sivy – None of the euro zone’s problems have gone away. Political crises beset France, Italy and Spain. Smaller countries, from Portugal to Cyprus, face even more pressing financial troubles. Germany grows less and less willing to foot the bill for bailouts.

There is, in fact, a historical case for tolerating default. Argentina suffered a financial crisis in 1999 that led to a period of high unemployment… more> http://tinyurl.com/c5rfxh3

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