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As long as the debt is denominated in their own currency, there's nothing in principle to prevent them from printing enough money to cover it. They can, after all, issue the currency by fiat.

But there's the pesky little detail that it'll shoot their credit-worthiness to shreds.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Oct 24th, 2008 at 05:00:55 PM EST
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