But if they do, a Greek default need not be a disaster.
The measure, which is always politically unpopular but essential to avoid default, needed 60 votes to pass and got not a vote more, for a 60-to-39 60-to-39 60-to-39
Charles Calomiris of Columbia Business School argues that Greece could ultimately benefit by leaving because it would bring about both the harsh default needed to restore debt sustainability and the big devaluation needed to restore the country's competitiveness.
Therefore, parameter values other than the default needed to be explored.
The associations of smoking and CD4 T-cell count less than 200 cells/mm3 with TB treatment default need to be better understood for more appropriate intervention planning to reduce treatment default in these subjects.
This can suffer losses without defaulting, need not receive a dividend and does not have to be repaid.
Kenneth Rogoff and Carmen Reinhart, two Harvard economists, argued in "This Time is Different" that defaults need not be catastrophic, so long as haircuts are administered speedily and fairly.
In this environment, sovereign defaults need not threaten banks' health.
"Before Puerto Rico's next default, it needs the protection of this legislation.
For the rest of Europe to protect itself against a Greek default, it needs a three-pronged plan of attack.
