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> Greece going default, is it any different ?

Greece used Euros, so the default in Greece was borne by everyone in the euro zone. The ECB got all the reputation of the Bundesbank in terms of inflation fighters. Portugal & Ireland for instance got pulled in because of Greece, due to the shared currency.

The Russian situation might have some lenders sort of leaning in, depending on the politics of the process. India & Russia did some sort of hard peg on the Ruble for debt (India owed USSR, to be exact), instead of letting it float in Rubles vs USD.



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