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|User Info||Greece Will Leave The Euro: Be Prepared; entered at 2012-05-16 13:18:57|
Registered: 2008-10-19 Santa Monica
Stuki: Which "prudent lenders" are you talking about? If you're talking about those that lent to a government, then they are not prudent, because it's always been that there is no collateral and is only as good as the government.|
If you're talking about private debt, then only collateralized debt is "prudent", and exit-and-devalue hurts borrowers in Greece far more than lenders in that situation. For borrowers, their new currency buys less Euro, which they still need to pay back their debt denominated in Euro.