| Topic: | Re:Re:Re:Re:Re:Its the bankers or us.... | |
| Posted by: | William Beausire | |
| Date/Time: | 05/12/10 11:21:00 |
"I'm saying I disagree that the banks will eventually end up owning countries." How would a bank or any institution "own" a country? "What happens if a country goes bankrupt" http://www.law.harvard.edu/programs/about/pifs/education/sp26.pdf Try this case study (URL above) of the Russian default of 1998. "What happens if we decide not to pay back our debts?" Nothing much. Nobody will lend the government any money for a very long time though. That means the deficit has to go to 0% straight away. Given the fuss over proposals to reduce the deficit by 3% over 4 years, I think this would cause a bit of strain. "What is the international form of 'baliffs'?" I'm not aware of there being any, although the piece above refers to an IMF led "Sovereign Debt Restructuring Mechanism" or something. Pressure can be brought on any country to approach restructuring negotiations in a responsible way. "If our debts are technically impossible to pay off then why bother to make cuts?" IF you default, you are going to have to make cuts anyway since nobody will lend to you (see above). Might as well get used to it. |
| Topic | Date Posted | Posted By |
| Its the bankers or us.... | 03/12/10 20:28:00 | Carrie Richards |
| Re:Its the bankers or us.... | 03/12/10 20:28:00 | Carrie Richards |
| Re:Re:Its the bankers or us.... | 04/12/10 08:48:00 | Stewart Dean |
| Re:Re:Re:Its the bankers or us.... | 04/12/10 10:57:00 | Carrie Richards |
| Re:Re:Re:Re:Its the bankers or us.... | 04/12/10 19:36:00 | Stewart Dean |
| Re:Re:Re:Re:Re:Its the bankers or us.... | 05/12/10 11:21:00 | William Beausire |
| Re:Re:Re:Re:Re:Its the bankers or us.... | 05/12/10 17:22:00 | Carrie Richards |
| Re:Re:Re:Re:Re:Re:Its the bankers or us.... | 05/12/10 17:25:00 | William Beausire |
| Re:Re:Re:Re:Re:Re:Re:Its the bankers or us.... | 05/12/10 18:59:00 | Carrie Richards |
| Re:Re:Its the bankers or us.... | 05/12/10 11:22:00 | William Beausire |
| Re:Re:Re:Its the bankers or us.... | 05/12/10 19:21:00 | Carrie Richards |
| Re:Re:Re:Re:Its the bankers or us.... | 06/12/10 06:30:00 | William Beausire |
| Re:Re:Its the bankers or us.... | 05/12/10 11:59:00 | James Holmes-Siedle |
| Re:Its the bankers or us.... | 03/12/10 20:39:00 | Lucy Chambers |
| Re:Re:Its the bankers or us.... | 03/12/10 22:04:00 | Carrie Richards |
| Re:Re:Re:Its the bankers or us.... | 04/12/10 19:42:00 | Stewart Dean |
| Re:Re:Re:Re:Its the bankers or us.... | 05/12/10 09:26:00 | Alan Clark |
| Re:Re:Re:Re:Re:Its the bankers or us.... | 05/12/10 12:48:00 | Steve Taylor |
| Re:Re:Re:Re:Re:Re:Its the bankers or us.... | 05/12/10 18:43:00 | Lucy Chambers |
| Re:Re:Re:Re:Re:Re:Re:Its the bankers or us.... | 06/12/10 07:11:00 | Stewart Dean |
| Re:Re:Re:Re:Re:Re:Re:Its the bankers or us.... | 06/12/10 08:49:00 | Stephen Moore |
| Re:Re:Re:Re:Re:Re:Re:Re:Its the bankers or us.... | 06/12/10 08:50:00 | Stephen Moore |
| Re:Re:Re:Re:Re:Its the bankers or us.... | 06/12/10 07:18:00 | Stewart Dean |