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Planet Money

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Business, News & Politics

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The economy, explained, with stories and surprises. Imagine you could call up a friend and say, "Meet me at the bar and tell me what's going on with the economy." Now imagine that's actually a fun evening. That's what we're going for at <em>Planet Money</em>. People seem to like it.

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#314: The Price Of Default

October 14th, 2011

Episode 417 of 909 episodes

It seems unlikely that Greece will be able to avoid defaulting on its loans. The real question is how the default will happen — will it be clean and organized or messy and catastrophic.The nightmare scenario Greece most wants to avoid is what happened in Argentina. A deep recession and doomed dollar peg forced Argentina to suspend payments on its debt, leaving its lenders high and dry.Today on the podcast, a cautionary tale for Greece.

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