What Happens If A Country Goes Bankrupt?

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Many countries have been almost or completely bankrupt in recent history with Greece now on the brink of bankruptcy. So, what happens when countries go bankrupt?

Learn More:

Syriza’s historic win puts Greece on collision course with Europe
http://www.theguardian.com/world/2015/jan/25/syriza-historic-win-greece-european-union-austerity
“European politics has been plunged into a volatile new era following a historic victory in Greece’s general election by far-left radicals committed to ending years of austerity.”

Seized Argentinian sailing ship leaves Ghana
http://www.theguardian.com/world/2012/dec/20/argentina-sailing-ship-ghana-release
“An Argentinian navy ship detained for 10 weeks in Ghana because of a dispute with a US-based “vulture fund” has finally set sail from west Africa.”

Iceland’s Stabilized Economy Is A Surprising Success Story
http://www.forbes.com/sites/traceygreenstein/2013/02/20/icelands-stabilized-economy-is-a-surprising-success-story/
“Faced with the possibility of financial failure, Iceland had to think on its feet. Instead of bailing out banks USA-style, the country forgave mortgage debt for the population – and completely started over from square one.”

Watch More:
What Do the UN and NATO Actually Do?
https://www.youtube.com/watch?v=S6qWzFqs8iE

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