Question Details
Who will default first?
kruijs in
Politics
» Inter-/Multinational
Settled on 01/03/2012 23:03 Settled by
kruijsPredictions
Background
It could be the default heard around the world. If Greece can no longer make payments on its national debt, the financial shockwaves may rock your local bank. As the Greek government teeters and European countries appear deadlocked over a rescue plan, holders of Greek debt face the biggest immediate risk.
The sword of a debt downgrade is hanging over the U.S. too. Credit rating agencies have said the nation's pristine AAA debt rating is threatened. That means a bet on dollar-backed securities — usually as safe as it gets — is at risk because the U.S.'s massive debt burden puts it at risk of default.
Though the prospect of a Greek-like default in the U.S. remains remote, it’s just one more worry on a long list of concerns that has fueled renewed pessimism in the economic outlook.
http://today.msnbc.msn.com/id/43427742/ns/business-world_business/
http://money.cnn.com/2011/06/16/news/economy/greek_us_national_debt/
http://expectedreturnsblog.com/america-in-debt-we-trust/
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