Andrew Walter

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Historically, governments that have chosen default have experienced a much higher risk of losing political office. AAP/Simela Pantzartzi

If Greece defaults, dominoes will not fall

Jeffrey M. Chwieroth, London School of Economics and Political Science; Andrew Walter, The University of Melbourne, and Cohen R. Simpson, London School of Economics and Political Science

A possible “Grexit” would be more likely to lower rather than raise the political incentives for other European governments to follow.

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