Better print those Drachmas on toilet paper because that’s all they’re gonna be good for.
CC
“Better print those Drachmas on toilet paper because that’s all they’re gonna be good for.”
Unfortunately Greece understands international (and US) bankers better than most people, even on this site. Once Greece formally defaults and renounces their debt completely that will start a 2-year waiting period. Once that ends, the loans will flow-in like the Mississippi, just as happened now, twice, with Argentina, and once with Iceland. Also happens every day in this country with people that declare bankruptcy - they barely make it home from the court house when the credit card offers again start flooding their mailboxes (they’re considered a better risk after declaring, than before declaring, since they have no debt after declaring, at least for Ch. 7).
Bankers make money by loaning other people’s money - they make nothing by not loaning to bad risks. They used to go to jail if they intentionally loaned money to entities that could not pay it back. Now we’re ‘beyond’ that savagery, and they get HUGE BONUSES for moving the money, and, of course bailed out when countries (or people) don’t pay it back. So Greece, like many countries in the past, will find things to be MUCH BETTER after defaulting. My only question is why did they even try to pay the money back?