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With Greek's debt-to-GDP ratio now at 180%, it is also absurd that nobody, apart from the IMF, is talking about the possibility of debt relief.
Republicans declared their intention to hold the country's debt limit hostage – and raise the possibility of debt default – in return for massive deficit reduction from the Obama White House.
The question of the moment is whether the sane Republicans will, out of fear for their own political skins, defer to the insane Republicans and allow a government shutdown, or the much scarier possibility of debt default.
Though his finance minister, Pedro Malan, in Washington this week denied any possibility of debt restructuring, Mr Cardoso on Wednesday saw two of the rebels, and more talks are likely though none are scheduled with Mr Franco.
The creditors – the European commission, the International Monetary Fund and European Central Bank – want Athens to impose higher rates of VAT on areas that were previously given discounted rates and to accelerate pension reforms as the price of fresh loans and the possibility of debt relief.
You may also want to consider starting a college fund if you are concerned about the possibility of "debt without diploma".
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"We're very concerned about the possibility of debts.
Although many Members are wary of multiple debt limit votes, the possibility of additional debt limit increases before the Presidential election cannot be ruled out at this point.
Argentina, which depends heavily on international debt markets to finance government operations, had faced the possibility of a debt default without coordinated help from multilateral financial institutions and private creditors.
Asked about the possibility of a debt writedown, he said: "I can deny that categorically".
The financial markets are becoming more and more concerned about the possibility of a debt default.
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