Greek default in the next two weeks?

[Jog On]

Some quite spectacular backpeddling going on now:

Greek PM Papandreou may withdraw referendum proposal @ Forex Factory

Greek PM Papandreou may withdraw referendum proposal according to a party official

[Churchill]

Looking at the FTSE, it's just another day at the pit-head! Business as usual.

[Jog On]

Got to love Twitter:

Greek sources say Papandreou resignation the most likely outcome
From twitter.com | 47 min ago

Greek pm has not resigned and will not resign - rtrs
From twitter.com | 14 min ago

Forex Factory

Massively volatile day today, got all this Greek crap, G20 and the new ECB guy making a EURO rate announcement followed by a news conference...

No trades for me today!

[HeadlessChicken]

He's in,...., no no - he's out , ...., ohh no -he's in

IMHO,all the eurozone countries are finding themselves in between rock and a hard place. Greece has to accept the new bailout fund/rules, otherwise it'll have wind it watch 200 years back and start all over again while rest all euro countries and the world move on.

Where are the 'gurus' who suggested that UK should have been part of EU.

[doodab]

Where are the 'gurus' who suggested that UK should have been part of EU.

It is part of the EU.

[russell]

The Greeks hold all the power now, they can take down the Euro if they wish. I reckon they want out the Euro its a win win, they get rid of all debt overnight, they don't have to follow any measures dictated from Europe and they can devalue and reignite their Economy. Job done!

[suityou01]

The Greeks hold all the power now, they can take down the Euro if they wish. I reckon they want out the Euro its a win win, they get rid of all debt overnight, they don't have to follow any measures dictated from Europe and they can devalue and reignite their Economy. Job done!

Scary, but WHS.

[russell]

Scary, but WHS.

Always thought you knew you stuff.

[MrMark]

The Greeks hold all the power now, they can take down the Euro if they wish. I reckon they want out the Euro its a win win, they get rid of all debt overnight, they don't have to follow any measures dictated from Europe and they can devalue and reignite their Economy. Job done!

But they don't get rid of the debt, regardless of whichever currency they use?
Of course they can default (haven't they already done so in effect?) and there are consequences to that. No reason why they can't continue to use the Euro in normal life, even if the country officially leaves the Euro?

[doodab]

The Greeks hold all the power now, they can take down the Euro if they wish. I reckon they want out the Euro its a win win, they get rid of all debt overnight, they don't have to follow any measures dictated from Europe and they can devalue and reignite their Economy. Job done!

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.