HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » I have an incredibly naiv... » Reply #10
Introducing Discussionist: A new forum by the creators of DU

Response to PoliticAverse (Reply #7)

Wed May 9, 2012, 02:40 AM

10. They didn't need to default on their sovereign debt..

because they refused to guarantee bad bank debts. Instead they nationalized the banks, devalued their currency, and paid off depositors while forcing bondholders to take writedowns. Now they can borrow at rates under 5%.

Turns out that a little bit of financial sector discipline goes a long way.

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 29 replies Author Time Post
1StrongBlackMan May 2012 OP
Jackpine Radical May 2012 #1
1StrongBlackMan May 2012 #14
Scuba May 2012 #2
MrMickeysMom May 2012 #3
PoliticAverse May 2012 #7
LineLineLineReply They didn't need to default on their sovereign debt..
girl gone mad May 2012 #10
MrMickeysMom May 2012 #11
PoliticAverse May 2012 #17
MrMickeysMom May 2012 #18
FogerRox May 2012 #21
MrMickeysMom May 2012 #22
FogerRox May 2012 #29
OnlinePoker May 2012 #16
TreasonousBastard May 2012 #4
provis99 May 2012 #5
girl gone mad May 2012 #9
TreasonousBastard May 2012 #13
PoliticAverse May 2012 #6
girl gone mad May 2012 #8
ret5hd May 2012 #12
girl gone mad May 2012 #15
1StrongBlackMan May 2012 #19
Taitertots May 2012 #20
mother earth May 2012 #23
dixiegrrrrl May 2012 #24
mother earth May 2012 #25
dixiegrrrrl May 2012 #26
mother earth May 2012 #27
mother earth May 2012 #28
Please login to view edit histories.