As a result, Greece, and maybe other peripheral European countries too, will need another bail-out sooner or later.
But the other peripheral countries have it in their power to reduce debt, and eventually to finance themselves.
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Greece, he told me, was actually not as risky as some of the other peripheral countries we had discussed.
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People already bought apps, subscribed to services, and acquired cases, chargers, and other peripheral devices unique to their chosen mobile platform.
He said Greece was actually not as risky as some of the other peripheral countries because it had more economic equality.
He does not envision any quick resolution of the debt crisis surrounding Greece and other peripheral European nations, which is pressuring the euro.
Rather, it would be a signpost on the way to dealing with the problems of those other peripheral countries, an example to be emulated.
To be sure, the presence of large Russian and offshore funds in Cypriot banks is cause for a different format than those used in other peripheral countries.
Second, what is the impact on other peripheral debt markets?
On a brighter note, other peripheral Eurozone debt issues this week went rather well, resulting in a healthy bid-to-cover ratio, with both Spanish and Italian bonds rallying a tad.
Britain may find itself being ordered by a European banking regulator to inject yet more capital into the bank, despite its negligible exposure to Greece and other peripheral countries, because of stress tests designed to shore up the financial system in the euro-zone.
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The other troubled peripheral economies would be hit hardest, though in this model they would increase their commitment to structural reform having seen the alternative.
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But that may be the lesser of two evils: capital controls might pose an even greater risk if they lead to a wider loss of confidence in other weak peripheral banking systems.
The Spanish 10-year bond yield was at 5.32% Wednesday, well below its November peak in the 6.7% range and the 7% threshold which has been unsustainable for other countries in peripheral Europe.
Whether we'll ever see the as-yet-unpriced tubular peripheral hit other markets, well, that still remains to be seen, with Sony only going so far as to listing it as "coming soon" on its Japanese website.
While unit sales of most of Apple's computer lines were down in the fourth quarter of 2002, sales in its "peripheral and other hardware" category, into which the iPod falls, grew by more than 50% versus the year-ago quarter.
The other drug candidate is for the treatment of peripheral T-cell lymphoma.
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Other conditions associated with similar symptoms that need to be considered include spinal stenosis, peripheral neuropathy, certain musculoskeletal conditions and deep venous thrombosis.
Gazprom's top managers also remain uncompromising on other issues, such as the lack of proper investment planning, and the amount of money spent on peripheral activities.
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