Trusted
Possum: Hi
I came across this video about the result of Greek assets sales.
http://youtu.be/bISfaVkszo0
How close is New Zealand to this sort of thing?
Max Keiser is a bit of a sensationalist and conspiracy theorist however defaulting is exactly what Greece and Ireland should have done.
It's not an easy way out but it's better than the current process and it forces the risky lenders to take the loss instead of socialising (taxpayers pay) it.
Countries in Eurpoe are going to go over like dominoes but it's better to take the pain now then kick the can down the road and wait till it's worse.
