And the way we pay for it is by doing more on deficit reduction than the plan that we had to come up with right at the last minute in order to avoid default.

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"Chainrai has invoked a clause in a loan contract he struck with the club's third owner this year, Ali Al Faraj, giving him the right to take over 90% of the shares should they default on repayments to him, " added Farquhar.

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Right now, if Greece were to default on its debt and lose all external financing, it would be forced to immediately cut its non-interest spending from 43.9% of GDP to 39.0% of GDP.

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If they are not declared in default they have the right to unlimited renewals of the 99-year lease on the current terms which are very favorable to them.

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Should a senior tranche default, the insurer has the right to step in and make the missing interest payments to forestall a liquidation.

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Speaking of which, panoramas default to landscape and only support left to right sweeps.

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For those people who are right at the brink, another increase could definitely set them on the road to default.

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Long-term default is all-but-impossible, as those issuing loans for higher education have the right to garnish everything from tax refunds to Social Security checks in their quest to be paid back.

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While we remained justifiably confident that in the end Congress would do the right thing, that the leaders would all be true to their word and take action to ensure that we would avoid default, that prospect was there, clearly.

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