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Greece Has Defaulted Before, and So Have Many Others

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HISTORICAL PERSPECTIVE
"Given the random nature of markets, and the importance of money to most cultures, you might be surprised to find out how many times events called "unprecedented" have happened," writes Matt Krantz. "National defaults, while rare, aren't unheard of. Other European nations that have defaulted include: Austria (three times), Bulgaria (twice), Germany (in 1932), Hungary (1931), Italy (1940), Poland (twice), Portugal (twice), Romania (three times), Russia (twice), Serbia/Yugoslavia (three times), Spain (three times) and Turkey (four times)."
SOURCE:   USA Today

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