-
Greece on Edge of Biggest Insolvency 24 Centuries After First City Default
History’s first sovereign default came in the 4th century BC, committed by 10 Greek municipalities. There was one creditor: the temple of Delos, Apollo’s mythical birthplace. Twenty-four centuries later, Greece is at the edge of the biggest sovereign default and policy makers are worried about global shock waves of a insolvency by a government with 353 billion euros ($483 billion) of debt -- five times the size of Argentina’s $95 billion default in 2001. “There is a monstrously large amount of uncertainty and a massive range of possibilities,” said David Mackie, chief European economist at JPMorgan Chase ... (full story)
- Comments
- Comment
- Subscribe
- Comment #1
- Quote
- Sep 23, 2011 1:48am Sep 23, 2011 1:48am
- lastresort
- | Joined Sep 2010 | Status: Member | 26 Comments
- Comment #2
- Quote
- Sep 23, 2011 1:58am Sep 23, 2011 1:58am
- Jolly Roger
- | Joined Jun 2011 | Status: Member | 1468 Comments
- Comment #3
- Quote
- Sep 23, 2011 2:22am Sep 23, 2011 2:22am
- simon pua
- | Joined Aug 2011 | Status: Junior Member | 4 Comments
- Comment #4
- Quote
- Sep 23, 2011 2:40am Sep 23, 2011 2:40am
- MichelJean
- | Joined Mar 2011 | Status: Member | 30 Comments
- Comment #5
- Quote
- Sep 23, 2011 2:52am Sep 23, 2011 2:52am
- blanco1958
- | Joined May 2010 | Status: Member | 124 Comments
- Comment #6
- Quote
- Sep 23, 2011 2:57am Sep 23, 2011 2:57am
- aediaz1
- Joined Aug 2007 | Status: Member | 9 Comments
Measure twice, cut once
- Comment #7
- Quote
- Sep 23, 2011 4:05am Sep 23, 2011 4:05am
- William.N
- | Joined Oct 2010 | Status: Junior Member | 1 Comment
- Comment #8
- Quote
- Sep 23, 2011 5:46am Sep 23, 2011 5:46am
- ioni
- | Joined Sep 2011 | Status: Member | 9 Comments
- Comment #9
- Quote
- Sep 23, 2011 5:50am Sep 23, 2011 5:50am
- PipTrapper
- Joined Aug 2008 | Status: Persist Until Something Happens | 798 Comments
Those who say it cannot be done should not interrupt those who are doing it