That's well put, but does locationdataneed tobe defaultprivatelikemedical information in order topreventmisuse, and to support an economy of innovation?
In turn, the country's departure from the eurozone would "result in widespread default on private sector as well as sovereign euro-denominated obligations, " the ratings agency said.
The simplest way to cope with default by private borrowers is to improve the inadequate domestic bankruptcy laws that still prevail in many emerging economies, something that is slowly under way.