{"id":2946,"date":"2011-11-15T00:12:45","date_gmt":"2011-11-14T22:12:45","guid":{"rendered":"http:\/\/www.poleconomix.gr\/portal\/?p=2946"},"modified":"2011-11-15T00:12:45","modified_gmt":"2011-11-14T22:12:45","slug":"greece-italy-and-financial-stability","status":"publish","type":"post","link":"https:\/\/www.poleconomix.gr\/portal\/greece-italy-and-financial-stability\/","title":{"rendered":"Greece, Italy, and financial stability"},"content":{"rendered":"<p>Hamilton, James.<\/p>\n<p>The drama began in Greece. Where is it going to end?<\/p>\n<div id=\"a001942more\">\n<div id=\"more\">\n<p>Let me begin with some observations on the basic mechanics of sovereign debt default. If you borrow $1 at a 5% interest rate, next year you&#8217;re going to owe $1.05. If you don&#8217;t pay any of it back and just roll over the debt, you&#8217;d then have to borrow $1.05 next year, meaning you&#8217;d owe $1.10 at the end of the following year. It&#8217;s hard to see how that game can go on forever, even if it&#8217;s a sovereign government doing the borrowing.<\/p>\n<p><strong>\u03a0\u03b7\u03b3\u03ae: <\/strong>Econbrowser<\/p>\n<p><a href=\"http:\/\/www.econbrowser.com\/archives\/2011\/11\/greece_italy_an.html\" target=\"_blank\">\u03c0\u03bb\u03ae\u03c1\u03b5\u03c2 \u03ba\u03b5\u03af\u03bc\u03b5\u03bd\u03bf<\/a><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hamilton, James. The drama began in Greece. Where is it going to end? Let me begin with some observations on the basic mechanics of sovereign debt default. If you borrow $1 at a 5% interest rate, next year you&#8217;re going to owe $1.05. If you don&#8217;t pay any of it back and just roll over [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,37],"tags":[26,27],"class_list":["post-2946","post","type-post","status-publish","format-standard","hentry","category-18","category-37","tag-26","tag-27"],"_links":{"self":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/2946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/comments?post=2946"}],"version-history":[{"count":1,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/2946\/revisions"}],"predecessor-version":[{"id":2947,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/posts\/2946\/revisions\/2947"}],"wp:attachment":[{"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/media?parent=2946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/categories?post=2946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.poleconomix.gr\/portal\/wp-json\/wp\/v2\/tags?post=2946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}