Here's my explainer on what a Grexit might look like. Warning: contents include a small amount of Target2. http://on.wsj.com/1eCBQHh
@charlesforelle @pmarca "Greece can’t simply pass a law changing the debts’ terms, as it did for the 2012 default." Why not? What prevents?
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@paulbaumgart@pmarca the bonds are issued under English law, not Greek. -
@charlesforelle@pmarca I see. So it would be a significant diplomatic problem for them to just ignore English law?
End of conversation
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