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Fri September 23, 2011
A Greek Default Would Spread Debt Contagion
European leaders insist they will take all necessary measures to ensure Greece does not default on its debt. A default would throw Greece's economy — and the European banking system — into deeper crisis. But many financial experts are advocating an orderly default. They argue it will be painful but preferable to round-after-round of painful austerity measures and more uncertainty.