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View Diary: Southern Europe "faced with a societal explosion" (227 comments)

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  •  Exactly (10+ / 0-)

    Just like somebody who has a huge mortgage that takes most of their income, if they just don't pay that mortgage, they can manage just fine.

    They can get a smaller house. They've cut some of Greece's debt, but the banks just need to bite the bullet and wipe it out completely.

    Let Greece declare bankruptcy and get out of the Euro. They'd find that companies would want to move there (because the costs would be less), there would be more jobs, and while imports would go up, exports would boom.

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