How quickly collapse can happen

June 7, 1873:
"The Approaching Spanish Repudiation"

July 5, 1873:
"[Spain] Making Arrangements for the Payment of Current Coupon"

August 2, 1873:
"Spanish Interest Will Not Be Paid"

August 30, 1873:
"Anarchy in Spain"




July 18, 2001:
"Markets Laud Argentine Debt Accord - Calms Fears of Default"

August 3, 2001:
"Flurry of International Contacts to Prevent [Argentina] Default"

December 14-20, 2001:
"Angry Argentines Take Their Displeasure to the Streets"

"State of Siege"

"Looters Ravage Cities"



January 21, 2010:
"Investors are concerned that Greece won't be able to finance its budget deficit."

February 14, 2010:
"Years of unrestrained spending, cheap lending and failure to implement reform."

February 17, 2010:
"Greek Tragedy Averted, For Now"

February 24, 2010:
"Greek Police, Protesters Clash"

http://www.safehaven.com/article-15908.htm