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Countries default all the time (OK, not all the time, but it happens). There's excellent research on what happens before, during and after a default. It's catastrophic, but in a predictable way. Investors get spooked, pull capital out of the defaulting country, take losses and move their money to safer assets – usually U.S. Treasuries (you know, the ones we're talking about defaulting on now).
Author: - Kirjoittanut: Anonymous, 05/01/2021,