Greek default in the next two weeks?

[MrMark]

They can't take down the euro, it'll keep going, markets aren't going to rush headlong into crushing italy and spain and even if they do the potential for rescue is still there. The greeks are primarily screwing themselves over, or not.

It'd be interesting to see if holiday bookings to Greece have gone up or down recently. Or maybe not.

[suityou01]

They can't take down the euro, it'll keep going, markets aren't going to rush headlong into crushing italy and spain and even if they do the potential for rescue is still there. The greeks are primarily screwing themselves over, or not.

Then why create a deal? Because they just love Greece and want to help them?

Mate, a messy exit from the euro would kill the euro stone dead. That's the whole point as to why everyone is so panicked and rushing round like headless chickens, having working lunches, all night long meetings.

[xoggoth]

Today's Greek news has certainly attracted a lot of comments. 2752 on DM, 4380 on DT although curiously only 5 on DE.

Those opinionated righties eh? I think we need a bit of balance by checking the comments on the Guardian, Independent or BBC. Oh no, hang on, lefty media outlets don't allow readers to express opinions do they? Maybe there's a message there somewhere.

[TheFaQQer]

Today's Greek news has certainly attracted a lot of comments. 2752 on DM, 4380 on DT although curiously only 5 on DE.

Those opinionated righties eh? I think we need a bit of balance by checking the comments on the Guardian, Independent or BBC. Oh no, hang on, lefty media outlets don't allow readers to express opinions do they?

Greek crisis: Government on the brink as PM holds crucial talks | Business | guardian.co.uk (350 comments)

BBC News - Greek eurozone crisis - doesn't count them, but there is a link to Twitter, Facebook and a form to complete to comment

The articles on the Independent also have a comments section.

Maybe there's a message there somewhere.

Is it that you don't know that you can comment on sites other than the Daily Wail?

[doodab]

Then why create a deal? Because they just love Greece and want to help them?

Mate, a messy exit from the euro would kill the euro stone dead. That's the whole point as to why everyone is so panicked and rushing round like headless chickens, having working lunches, all night long meetings.

A disordely default would have caused problems for a lot of eurozone banks, that's why their shares have been so volatile. With the enhanced efsf and additional capital that risk should be greatly reduced and greece going pop will not be a catastrophe on quite the same scale.

It might still have a knock on effect for spain, italy or portugal. I don't know what the maturities are like on their debts though.

[russell]

A disordely default would have caused problems for a lot of eurozone banks, that's why their shares have been so volatile. With the enhanced efsf and additional capital that risk should be greatly reduced and greece going pop will not be a catastrophe on quite the same scale.

It might still have a knock on effect for spain, italy or portugal. I don't know what the maturities are like on their debts though.

So you have access and have studies all the balance sheets of all the Eurozone banks and countries? You are sure Greece going bankrupt will be contained?

[Freamon]

A disordely default would have caused problems for a lot of eurozone banks, that's why their shares have been so volatile. With the enhanced efsf and additional capital that risk should be greatly reduced and greece going pop will not be a catastrophe on quite the same scale.

It might still have a knock on effect for spain, italy or portugal. I don't know what the maturities are like on their debts though.

Too short I'm afraid.

The market thinks that eurozone countries are TBTF. If the EU lets Greece go to the wall then that myth is shattered and the remaining PIIS countries start to look a lot more shaky.

[doodab]

So you have access and have studies all the balance sheets of all the Eurozone banks and countries? You are sure Greece going bankrupt will be contained?

I think it will cause much less havoc than it would have done a month or two ago.

The other countries in the firing line would still be there whether Greece was in trouble or not.

[BlasterBates]

Doom overdone, it would only be doom if Italy was like Greece, which it isn't. Greece is unique in that it has f*** all. It has no industry, nada nothing, just beaches, all other countries just need to be disciplined. Greece basically will probably go through a series of restructurings, but the other countries in the PIIGS just need some reform. Greek debt is priced at around 70% discount so the 50% haircut won't make a jot of difference.

[Freamon]

Greek debt is priced at around 70% discount so the 50% haircut won't make a jot of difference.

Except that most holders bought it *beforehand* i.e. when it was still worth par, and would have been due 100% of their money back. With the haircut this is no longer the case.

So yes, it does make a difference.