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<blockquote data-quote="vantexan" data-source="post: 5225102" data-attributes="member: 24302"><p>Well apparently Greece does. It's not the same as you going down to your local bank. Sovereign nations issue bonds. Other nations and banks buy those bonds. That's the loan. They expect to be paid back with interest. Greece defaulted. They have a responsibility to the bond holders. If a nation doesn't honor its sovereign debt then it's likely no one will lend to them in the future(buy their bonds). And nations buy with taxpayer money. Banks buy with depositor money. You can't just write it off because then those entities will be damaged. People will lose money. Greece should have been responsible at the start and now they're paying for it.</p></blockquote><p></p>
[QUOTE="vantexan, post: 5225102, member: 24302"] Well apparently Greece does. It's not the same as you going down to your local bank. Sovereign nations issue bonds. Other nations and banks buy those bonds. That's the loan. They expect to be paid back with interest. Greece defaulted. They have a responsibility to the bond holders. If a nation doesn't honor its sovereign debt then it's likely no one will lend to them in the future(buy their bonds). And nations buy with taxpayer money. Banks buy with depositor money. You can't just write it off because then those entities will be damaged. People will lose money. Greece should have been responsible at the start and now they're paying for it. [/QUOTE]
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