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would the effects of an anticipated default by a nation be mostly symbolic?
user
it will affect greeks as any bankruptcy affects the bankrupt. they already started reducing their welfare policies and government hand-outs. default would mean that the government isn't able to meet its obligations. it's not only the external obligations, it's also the internal obligations - pensions, social security benefits, healthcare, public services, military (and the greeks are in constant confrontation with the neighboring turkey, with several armed conflicts throughout the years) - all that will get hit. yes, they will get affected much more, definitely.
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