In light of endless austerity budgets, @Debtocracy's section on how Equador dealt with odious debt seems very timely http://youtu.be/qKpxPo-lInk?t=40m25s …
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Ecuador defaulted on $3.2bn of debt based on audit commission findings, returned to the market recently after 6 yrshttp://www.ft.com/cms/s/0/3fead266-f300-11e3-85cd-00144feabdc0.html …
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Greece is in its' 5th year of mounting debt thanks to endless bailausterity, with no prospect of repairing damage to society any time soon.
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Worst thing about it is that everyone knew it'd play out like this all along, even the IMF, judging by their 'mistakes' & internal dissent.
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Govt musing to ask teachers to volunteer, next year it'll be doctors; universities "impossible" to operate in '15, say rectors.
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@asteris .... any chance the default debate will have influence in Greece ? ... -
@sheilabenson I still think the best way would be the abolition of odious debt, instead of unilaterally defaulting. But this is never ending -
@asteris I do remember much discussion of the "abolition of odious debt" option. Situation in Greece did seem to fit the criteria ... -
@sheilabenson we've accrued more since then. It's eminently suitable, an audit is long overdue, but we're not allowed to even contemplate it - 1 more reply
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