Papadimitriou, Dimitri Basil; Wray, L. Randall - 2011
possible ways out. It is not hard to formulate economically and technically simple policy solutions for both the United States … service its debt, and hinted that a 50 percent write-down is likely. That would be just the beginning, however, as other … highly indebted periphery nations will follow suit. All the major European banks will be hit - and so will the $3 trillion US …