Originally posted by Voltron
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Consequences- nobody will trust Greece again, it will be cash up front or in advance for imported products, no futher credit for many years to come - these then lead to futher consequences of hardship and poverty for the bulk of the average Greek citizens - and that's just the tip of the iceberg!
Default is the dishonourable way and will leave the next 2 generations of Greeks to pay for the mistakes of the few, this will lead to a mass exodus of youth and qualified people and leave the country financially crippled for many years to come.
An honourable course of action would be to acknowledge and accept the debt, strip all those multi millionaires/billionaires of all assets and cash accumulated by dubious means, reduce the debt as quickly as possible by as much as possible, return to the drachma and devalue the currency to promote far easier trading terms and make it cheaper for foreigners to invest and visit Greece, make friends with all neighbours and set balanced trade agreements and mutual diplomatic relations - then you can sell all your military hardware which is costing billions and is not required- given Greece's status in NATO.
I could go on and on and give you far more suggestions but I fear my words "like silent raindrops fall"(simon & garfunkel), which is currently the greatest danger to Greece, it is that mentality which you currently display that got Greece into this mess and will put it into an even greater mess if Greece does not accept an honourable way to solve it's problems.
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