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Thread: The Next Greece?

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    Default The Next Greece?

    Is Spain the next Greece? Or Italy? Or Portugal?

    Even as Greece pledged anew on Wednesday to rein in its runaway budget deficit, briefly easing the anxiety over its perilous finances, traders on both sides of the Atlantic weighed the risks — and potential rewards — posed by the groaning debts of other European governments.

    While investors welcomed news that Athens would raise taxes and cut spending by $6.5 billion this year, analysts warned the moves might not be enough to avert a bailout for Greece or to contain the crisis shaking Europe and its common currency, the euro.

    http://www.cnbc.com/id/35707353/


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    Gangster of Love! Octothorpe's Avatar
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    California is the next Greece!

    No, seriously--a recent statistic shows that Cali has the worst credit rating among the states, fiftieth out of fifty. Guess who's at fourty-ninth? Yep. My home state of Illinois--perpetually corrupt Illinois, led by Cook County and the last urban machine in American politics.

    Bankruptcy of both states is not out of the question.
    It Ain't Rocket Surgery!

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    Quote Originally Posted by Octothorpe View Post
    California is the next Greece!

    No, seriously--a recent statistic shows that Cali has the worst credit rating among the states, fiftieth out of fifty. Guess who's at fourty-ninth? Yep. My home state of Illinois--perpetually corrupt Illinois, led by Cook County and the last urban machine in American politics.

    Bankruptcy of both states is not out of the question.
    New York isn't doing so well these days either.

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    For the same basic reason too: high wages and pensions and early retirements for government employees

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