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WhiteKnight: I think you have a very good point. It’s like any of us if we overextend. At some point we either face the music and sell what we can, cut expenses, and try to rebuild our lives, or the sheriff comes with the eviction notice, and the repo man takes the car.

Greece is saying we are going to bite the bullet. Will they already be in the process of rebuilding while countries like Spain and Italy are collapsing under the weight of their debt to the Central Banks.