Wow. The Greek national debt is close to 200% the GDP.
If the scenario was dumbed down to a coles notes version, would that be like someone making $100,000 per year trying to pay off a $200,000 line of credit? If so, it almost seems like bankruptcy might be the best medicine for the country. Sure, the golden pensions and culture of tax aversion/lack of tax enforcement will be gone, but that was probably going to happen anyways.
The EU should have to face the music as well. Letting Greece into the union was like giving an 18 year old kid a platinum amex with no spending limit. Not a good idea ever.
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