[BITList] dying Greece

x50type at cox.net x50type at cox.net
Sat Jan 21 15:58:19 GMT 2012


    time to get out your old drachma?
    ct

    Super Mario’s bank rescue no lifesaver for a dying Greece 
    If the bond haircut works out, Greece is supposed to get a second bailout, worth €130-billion. If the haircut doesn’t work, Greece would probably default in March, when a €14.5-billion bond redemption is due. Haircut and bailout or not, Greece is dying. It needs to remove itself, or be removed, from the euro zone and print drachmas in the hope of devaluing its way back to something approaching economic stability
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