Wednesday, June 15, 2011

The best option for Greece is to default

Euro Debt Crisis: Greece Crippled by Protests, Strike Over Austerity - CNBC

Greece are already junk grade CCC and nothing more to lose. The best option today for them is to default. Dubai defaulted and restryctured and now moving slowly so is Iceland. in 1996 currency crisis Indonesia along with other nations used the gimmick.
Why the nation and peoples pay for the American Mess? Let there be default, give the bond holder including the master of the ring Goldman big haircut. It will take some time but Greece will be soon out of crisis.
Default will help Greece to come out of the crisis soon. If we look at history of default then, Argentina and many more defaulted. The bond holder who paid for corruption and luxury must be held responsible and given good haircut on their value.
Why future generations pay for the crisis?
No to mess? No to Printing Press? No to Printing money worth nothing.
For the bright future and safe and secure tommorrow for the next generation best solution is default.
The bond holder must pay for their risk?
This is only way out.

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