Interestingly, Eurozone members like Greece can't hyperinflate their currency, since members share common currency, but can't simply print it on their own. The worst they can do is default, which would still have a nasty financial domino effect, but it does leave open the possibility of kicking Greece out of the Euro and taking the hit.
Re:Why Japan Is Doomed
by startuprules on Wednesday August 04, 2010 @01:05PM
(#1575020)
Anybody with personal accounts from Iceland?
Re:Why Japan Is Doomed
by nedrichards on Wednesday August 04, 2010 @03:37PM
(#1575594)
Yes. And since I lived in the UK my government impounded Icelandic owned assets up to their value[1] to pay me back my money. Yay for international relations!
[1] http://www.telegraph.co.uk/finance/businesslatestnews/318519...
Most of the national debt is written off, public services are cut or re-financed through printing money which has the nasty side effect of inflation and then eventually hyperinflation.
Here's some examples: http://en.wikipedia.org/wiki/Hyperinflation#Examples_of_hype...