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The Epic Greek Saga
Clash

Member Since Nov 19, 2011  40 posts Frank (Clash) Feb 10 2012 at 17:28
Any thoughts or comments on this whole debacle?

Anyways, I read in the news that if the parliament refuses to approve the measures, Greece will have to leave the euro zone, because they’ll default. I can't tell the difference between bluffing and somthing that's actually serious. ?

A smart man only believes half of what he hears, a wise man knows which half. -- Jeff Cooper
TheCyclist

Member Since Feb 07, 2011  724 posts PipGnostic (TheCyclist) Feb 11 2012 at 05:03
Leaving the euro will most likely be good for the euro. Like divorcing your big spending wife.

The question is really, if they default will they cause a bank like JP Morgan to fold?

Do a search on 'bank OTC exposures' and you'll get an idea of what's at risk here. Very likely we all go back to the stoneage for a while if JP Morgan fails....

Other than that Greece will do what Greece will do, doesn't even help to try worry about what's going to happen there, just roll with it as it unfolds.

 

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Eurogroup meeting (5 min)
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