If they default all public servants would be unemployed unless they
agree to keep working without pay until the government could print some Drachmas.
Worse case:
The government could collapse due to no operating government
departments and the UN or the EU could step in and administer the country.

Argentina may give a clue. They were able to reboot their economy.
Greece however may owe considerably more money.
Hopefully those banks and financial institutions that lent on the real
never never will be gone and more business like banks will replace them.
However the population generally will have to make a transition in
their mindset. They will have to adopt the attitude that like it or not
taxes do have to be paid and that retirement at 50 is just not on.

Paul1405/quote..
""Australians should take note.""

too right

""Like always..the capita-list
cause the havoc with their greed and mismanagement.""

every boom
has had its bust
finland survived ok
doing much better than the eu..[phew]

""the boom and bust that capitalism creates.""

yep sheep follow the crowd
pick the leaders..sort out the sheep

""Then as if guiltless..the capitalists
wants to walk away with his fat stash,..whilst demanding the ordinary people,..the man in the street,..pay the price of their folly.""

mate the folly..is
that there is such a thing as a 'free lunch'

everything has its cost
and capitalism..was worth the cost
while the sheeple gave their blood/lives..
to sustain the demon/autrocratic capitalist trust/delusion

""Riots is Greece today""

dont sweat..the protecters
of the capitalists..are getting overtime
join the cops..get paid last,as money pays for protection
from those they too cleverly colluded to enslave

""people will not cop it forever.""

but prefer..to let others do it..FOR them
thus earned..all they soon shall reap

when communism failed
the people got shares

when capitalism fails
all we get is the odious bailout debt

the intrest falls due on who?
me an u..the many..not on the fe

579,

The consequences of a national default would be severe, especially for the Greeks. The yahoos protesting against the austerity measures have no concept of how really bad things would be under a default. The government would be forced to balance its books, and credit would be unavailable. Unemployment would soar, banks would implode, and many businesses would fail. This would take decades before Greece could raise money again.

Banks and lenders to Greece would have to write down their loans to near zero value with serious risk of failures, with consequent risk of defaults from other countries.

bazz said..quote..""If they default
all public servants..would be unemployed unless they
agree to keep working..without pay..until the government could print some Drachmas.""

ok lets refute govt as powerless
money..is only money...cause govt says it is

if govt says..thats not money
then..*that..*isnt legal_tender
WHATEVER GOVT SAYS..IS LEGAL TENDER

as banks close..
govt re-opens them
govt credits..everyone..in the new[old]..tender
!*..IN COIN*..!...instantly...[credit..in the bank]

[drakma/valued..in its historic matalic/value..
as if..a sterling/silver coin]

issue
a euro dividend..[in euro coin]
of say..an equal share...[of the last/bailoout loan]

the one..
lent..ONLY to pay off..other euro bankers/debt loans

issue
an equal share..
of that billions of euro's
in euro/coin..then revalue

the face of coin..
back into silver drakmas
[by adding two zeros..to the face of the coin
but not the quality..[euro]..under the revalued coin

[every invester
bound by the loan
now repays back the euro's lent...[in silver drackmas]

at silver/market face/rate..
[and the debt..is cleared..and people cashed-up]

TOP/down bailouts
will send us all broke
bailout..those..re-signed into perpetual poverty

via treason

restore
back into the drackma
its pre-debased/silver values..
[inflated]..deflated from the fiat euro/bond buyback scam's

""Argentina/may give a clue.""

yep overnight..the elite 1%..[in the know]
pulled/out..every bit of their wealth

and cash-machines ran dry
it wasnt..that the ignorant[decieved]..couldnt pay
but that they couldnt..*access their own bank held cash..!

in the end..they re-opend factories
as co-operatives..run..*for/by the workers
NO MONEY_CHANGERS..ursurous-DEBTS NEEDED..no masters/no bosses

just workers
working/earning/spending..*consuming

""They..we're..able to reboot..their economy.""

no banker needed..to bail them out
AND REPAY OFF..THE ORIGONAL DEBT!
plus ITS lower..underwriten/insured*..intrest_rate

only after..the rich left
just like cuba/iran/etc

""Greece..however may owe considerably more.;.*money.""

lol ..in falling euro's!

not sterling/silver drakmas
look silver..is rising..the euro is falling

think..

which ship..your wanting to/be on

""those banks..and financial institutions
that lent..on the real neve/never will be gone
and more business..like banks..will replace*{OCCUPY}>.them."""

rip..the bandage off..immediatly
like finland/ireland...iran

""the population..generally/adopt the attitude
that like it or not..taxes do have to be paid
and that retirement..at 50 is just not on.""

it was fine
bailing out bankers/collusions

that wasnt sustainable...
bring in transaction/taxes
bring in pension parity...[one advantage..of a higher drakma]

shadows/quote..""The consequences..of a national/default..severe,..especially...for the Greeks.""

rubbish
sovereign/govt underwrites..sovereign/debt
with..a drakma bond..[issues/underwrites...immmediat continuance ofincome legislation]

keeps..the incomes..[declared]..earned
comming-in..[individually]

and let the market set the price]..of the euro/drakma exchange/rate

the people vote wether germanic/french bankers..financing the selling of german/product/industry/morality/beurocracy...has given good_value

experiment..with greece
we all..think to know..default will not work

but heck..LETS TEST IT!..ON A SMALL SCALE
let government..govern..over the value
of its own lergal tender..!

'"The yahoos..protesting against the austerity/measures
have no concept..of how really bad things..would be under a default."""

LOL

and the guilty..
that..think to proffit..from the current scam
generate great fears..

the sky is falling..earth melting..
bird/swine flue...govt picking winners..from the whiners

serving special/intrest..not the people
their lands..and histry...

[heck issue local drackmas]
via schools..we might as well
set up the wikiseed/wikigeld governance system..as well

""The government..would be..forced
to balance..its books,""

govt dont have books..as such
the treasury do...

govt pays..by bond
the fed/etc monetise it...it creates..the bankers*..book asset[sovereign_debt obligation]

govt pays..*up_front
by bond

LOL..""and credit..would be unavailable.""

cccc rap..govt issues..a payoff..to its people

a euro/dividend...
converted into drakma parity

then as market..choses to set..it's exchange rate
[after its revaluation]..drakma conversion,.,.[adding two zero's]

govt
simply orders banks..to record it
and it must be don..e[or nationalise..as a social security consuming measure]

""Unemployment..would soar,""

but govt..*ASSURES your ONGOING..income
in euros..!

""banks..would implode""

unless we give them..a new game changer
new credit..new commodity..

a anti-neo/euro
[old]money..to trade in

""many businesses..would fail.""

yet..their income assured
[underwriten by govt]

""This would take decades..before Greece..could raise money again.""

greece..NEED/NEVER
lend..its own money AT INTRST
ever again...

[think who wins..who gains
follow the/money honey

""Banks..and lenders to Greece..would have/to..write down
their loans..to near zero/value..with serious risk of failures"""

no

govt assues the debt..*will be repaid in full
in 5 years...at the new official ursury rate,

frozen..pre..the media
spin and fear campains

""with consequent risk..of defaults
from other countries.""

no one defaults..!

if you owe debt..every euro*..of it
must be repaid

mark my word..the mark is dead..
long/live..the expendable BEUROCRATIC/eratic beurocrazy

euro
=
zero

[lol it..
was never real]

I think you have it a bit ass up Paul.

In this case it was the socialists habit of paying themselves much more than they earned, as long as there was someone else's earned money available to do it.

Now, when they are told they are only going to be paid what they are worth, they don't like it one little bit.

Then to be told that they have to pay back even most of the overpayment, is almost too much.

Even now most of them don't realise the truth of all this.

At least with their help, there is a good chance the world will be able to dance on the grave of the EU. Thank you Greece.

Now how do we get rid of the UN?