The IMF dispersed around 17 billion euros to save Greece from default, also in May.
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Once it emerges from default, the ratings on the defaulted bonds would be lifted, too.
Even if a state is encountering budget problems (and many are), it may still remain far from default.
Lower interest rates have made debts cheaper to service and kept many households and small firms from default.
Nationally, the time taken to process a foreclosure from default notice to bank repossession averaged 414 days in the fourth quarter.
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And the governor of New York State wants companies that sell CDS to insure customers' bond portfolios from default to be subject to solvency rules.
They have to affect optimism: as they try to save Greece from default today, they can hardly admit that it is sure to default tomorrow.
The average time for a mortgaged home to transition from default to bank reposession in each of these three states has been over two years.
The destruction wrought from default is much worse than the cost of battling hypothetical, follow-on lawsuits that Argentina argues could follow a court victory by the holdouts.
September German bund contracts reached a record high at the outset of European trading before the focus shifted away from default and onto a rally for equities.
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Obama and the Republicans twist themselves into pretzels protecting private corporate bonds from default by commandeering private capital and debauching the currency through the Fed to make multi-trillion-dollar bailouts of financial institutions.
They will miss the comfortable refuge from default risk, the wealth of noncallable issues, the exemption from state income tax and the dependable benchmark that corporate bond issuers use to price their securities.
The new securities would possess a unique combination of attributes, including inflation protection, freedom from default risk, freedom from all taxes, ultimate diversification, and upside potential based upon future improvements in economic policy.
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Their perceived immunity from default is increasingly untenable.
Ex-Imp would guarantee the loan from default.
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But why not take liberalism as the default, and see conservatism as a deviation from the default that tunes up the binding dimensions?
Although devaluation of the currency and inflation would generate losses for creditors, those losses are typically a fraction of losses that would arise from a default by government or - as Greece is trying to do - from a request to creditors to voluntarily forgo an element of what they're owed.
The 2nd rescue package is merely a way of saving Greece from a default on March 20th.
The same is true if Greece defaults on its debt: from the default there will be large losses yes.
We can see liberalism, as Haidt seems to, as a deviation from the default that tunes down the binding dimensions of the human moral sensibility.
To this day, the country is still reeling from that default.
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Still, we all like having options, and you've also got HoudahSpot (shareware) and Quicksilver (open source) if you want to try something a little different from the default.
Many see Greece as little more than a protectorate of the EU. It is widely believed that the purpose of the bailout was less about helping Greece and more about saving the euro and protecting international banks from a default.
While far from perfect, there's a lot to like about Nokia Creative Studio -- the panorama capture alone is worth the price of admission (which is free, unlike the alternative) since it's missing from the default Lumia camera app.
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So now we move on from Greek default, that inevitability, to the possible default of Portugal and Ireland (neither too damaging nor entirely necessary) to the possibilities of contagion through to Spain and Italy (neither necessary, both horrible to contemplate) and the really big question: will any and all of these countries stay in the euro?
Manufacturers would instead be allowed to make programs from rival companies default, including Web facilities from Google and Yahoo.
Manufacturers would instead be allowed to make programs from rival companies default, including Web facilities from Google (nasdaq: GOOG - news - people ) and Yahoo (nasdaq: YHOO - news - people ).
Without the bailout funds, Greece could be forced into an uncontrolled default from the euro.
And that is the aim: to limit the shock waves from a Greek default.
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