Which Country Goes Bankrupt Next? (Hint: It’s Not Who You Think)
Filed under: Rumors
When Greece defaulted on its government bonds in March, it was the first country of any size to take such a step since the great Argentine default of 2002. It won’t be the last.
Now, quibblers contend that Greece didn’t really default on its debt. Instead, the country presented its creditors with a take-it-or-leave-it offer: Write off all but 46.5% of the debt, or watch Greece declare bankruptcy and lose it all. (They took the 46.5%).
But that’s still a technical default — and that’s now…
Which Country Goes Bankrupt Next? (Hint: It’s Not Who You Think) originally appeared on DailyFinance.com on 2012-08-22T17:00:00Z.
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