Greece

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WALL track & MARKETS
Six reasons why Greece should default
By MICHAEL SCHUMAN | September 23, 2011 | +
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As ball-shaped stocks tank over rising fears of a double-dip quoin, one country at the center of the storm has never exited the recession Greece. Amid its increasingly severe debt crisis, the Greek economy is in its tertiary consecutive year of contraction, and, under pressure to slash disk operating system spending and stabilize its national debt, there is little expect that the situation will turn around any meter soon.



The IMF doesnt expect positive annual growth in the country until 2013! Earlier this week, the government approved yet some other package of austerity measures, including cuts to pensions and public sector workers and a political platform to tax the poor. The measures are an attempt to appease Greeces creditors in the euro zone, who are demanding even harsher steps in return for go on a $150 billion bailout given to Athens go bad year. Without those rescue funds, Greece could default on its debt.
That default is something Europe has been assay to avoid for a good 18 months. But much and more, Im coming to believe Greece should default. Heres why:
The prevailing wisdom concerning Greece is that a default on its $400 billion of sovereign debt would be a mischance for the worlds financial markets and help speed the global economy towards a renewed...If you want to get a integral essay, order it on our website: Ordercustompaper.com



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