Individuals and businesses default -- but countries rarely do , at least in the traditional sense . The latest plan is not the bailout , but the `` bail-in . '' Some politicians suffered financial losses but the government was not at risk of default . Other countries have defaulted -- including Argentina and Russia . And some , history shows , have been economically better off for having done so .
Individuals and businesses default -- but countries rarely do , at least in the traditional sense . Some politicians suffered financial losses but the government was not at risk of default . Other countries have defaulted -- including Argentina and Russia . And some , history shows , have been economically better off for having done so .