Here's my explainer on what a Grexit might look like. Warning: contents include a small amount of Target2. http://on.wsj.com/1eCBQHh
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Replying to @charlesforelle
@charlesforelle@pmarca "Greece can’t simply pass a law changing the debts’ terms, as it did for the 2012 default." Why not? What prevents?1 reply 0 retweets 0 likes -
Replying to @paulbaumgart
@paulbaumgart@pmarca the bonds are issued under English law, not Greek.1 reply 0 retweets 3 likes
Replying to @charlesforelle
@charlesforelle @pmarca I see. So it would be a significant diplomatic problem for them to just ignore English law?
8:21 AM - 8 Jul 2015
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