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To: HenryArmitage
Going to their creditors and saying “here is our best offer take it or we walk”.

More likely I think they will try to spin this out until five or six other countries are in the identical boat, and then try to form some sort of Debt Cartel. It could be the basis for a whole new Cold War.


6 posted on 05/08/2012 12:28:32 PM PDT by Buckeye McFrog
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To: Buckeye McFrog

I have no doubt that a few more countries will be in the Greek’s boat shortly, I just don’t know if Greece can keep it together long enough for enough to fall apart and increase the Greek leverage.


8 posted on 05/08/2012 12:36:45 PM PDT by HenryArmitage (it was not meant that we should voyage far.)
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To: Buckeye McFrog

The problem in “walking”...is that they really don’t manufacture enough to provide basic essentials to the Greek public. An example...insulin. Almost all of the insulin sold in Greek stores....comes from Italy or France. I was reading a business article back in January and discussing the problem where the state health care system could not ensure enough insulin was at your local pharmacy. So you had people being forced to provide cash to the drug shop....which was send onto France. That was the only way to get your monthly supply of insulin into the neighborhood drug store.

If they “walk”....I don’t think any company who will deal or sell anything to the Greeks unless they see absolute cash in their hand. You could see a rapidly slowed economy then....absolutely dependent upon tourism. It’d turn into an absolute mess within 100 days.


11 posted on 05/08/2012 1:44:46 PM PDT by pepsionice
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