Doom - UK to lose billions in Greek crisis

[BlasterBates]

Greek debt crisis could cost UK £335bn | Mail Online

Nothing like a Martini with a slice of doom to end the day.

[gingerjedi]

Greek debt crisis could cost UK £335bn | Mail Online

Nothing like a Martini with a slice of doom to end the day.

According to their little chart France and Germany would go completely under ...if I'm reading it right?

Statistics eh.

[Sysman]

Greek debt crisis could cost UK £335bn | Mail Online

Nothing like a Retsina with a slice of doom to end the day.

FTFY, 'cos that's all we'll be able to afford

[Old Greg]

...will cost British banks, not the U.K.

[russell]

The banks should take the brunt of this by taking "haircuts", the euro govs bailed them out when they were in the tulip. All the banks profits over the last few years, post bailout, should be used to wipe Greece's debt.

[BlasterBates]

http://www.bloomberg.com/news/2011-0...risis-fix.html

If Greece defaults will Portugal or Spain go down as well ? Could be interesting. Sounds like Lehman Bros with big knobs on.

[TiroFijo]

Greece Budget Hole Threatens to Swallow Europe - Bloomberg

If Greece defaults will Portugal or Spain go down as well ? Could be interesting. Sounds like Lehman Bros with big knobs on.

I can't see Spain not going down also, with 20% unemployment, 50% youth unemployment and their main industry which was construction wiped out. They also have a bloated civil service just like Greece. Southern Europe is almost a basket case with the exception of Northern Italy.

The EU expansion in 2005 was a bad idea that let East European countries with no money and are just a millstone round the big paying countries of the EU.

[doodab]

For everyone who loses on a CDS there will be a winner elsewhere, so the question on my mind is who stands to benefit from these contracts in the event of a default?

Of course there is a good chance that those institutions who wrote the CDS will be unable or unwilling to pay up when required.

[BlasterBates]

The winners get nowt because the losers go bankrupt, unless they're bailed out. The bulk of the Tarp funds in the USA were used to bail out AIG who were on the losing side of the CDS's.

[BlasterBates]

The European debt crisis although massively huge, with far bigger dimensions than Lehman's bros, is tiny compared to the trillions of trillions of US debt building up.

That may be the global economic "killer" blow.