Greek Bankruptcy

[malagabob]

If Greece was declared bankrupt what would be The consequences . Would they have to pay upfront for any imports. What else would be the terms

[Buenchico]

See here:
http://www.bbc.co.uk/news/business-31457991

[SIRandyraven]

Greece will end with as a third country in the EU.
Picture this ...someone has an infection that can be fixed via antibiotics that come from Germany or the uk. The person works (one of the few), but the cost of the antibiotics via the New Dracma represents a weeks salary.
Filling up a car will cost a months salary.

[SIRandyraven]

Also Greece has lost a whole generation of young skilled people. They have migrated to other EU countries to find work and I doubt if they will be returning anytime soon. So it is left with an aged unskilled population.
Here is Switzerland they ave limited Greek immigrants.

[Zacs-Master]

'Greece will end with as a third country in the EU.'

Eh?

[SIRandyraven]

Third world country.
Missed a word ...

[Peter Pedant]

wiki - sovereign default

quite a good article - goes into why Argentina has defaulted ten times since 1945...( erm as well as the famous default in 1789 in France )