The consequences of default

Program length – 06:50

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Iceland is flat out bankrupt.

Ireland may have to go hat in hand to the IMF to keep its economy from collapsing.

What’s going on?

Not long ago, these were two of the healthiest economies in Europe.

Now the Baltic states are starting to crumble.

What happens when a country goes broke?

Max Keiser and Michael Hudson lay it out.

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