Greek defaulted

[KIBU]

I am the first to say that.

[Fearful]

For reals? Or are you just making noise?

[GH]

There seems to be some indications this could occur in the next few days…

Have you noticed countries that control their own currency default through inflation while those that do not default by not making payments.

Either way in a debt based economy everyone defaults.

[KIBU]

Also, Steve Jobs is dead. There, I said it second, after CBS.

[CA renter]

I think you’re right, KIBU. It might take a few days to shake out, but next week will probably be very interesting.

[CA renter]

Here’s some info about what’s going on:

“Chancellor Angela Merkel’s government is preparing plans to shore up German banks in the event that Greece fails to meet the terms of its aid package and defaults, three coalition officials said.

The emergency plan involves measures to help banks and insurers that face a possible 50 percent loss on their Greek bonds if the next tranche of Greece’s bailout is withheld…”

“Greece is “on a knife’s edge,” German Finance Minister Wolfgang Schaeuble told lawmakers at a closed-door meeting in Berlin on Sept. 7, a report in parliament’s bulletin showed yesterday. If the government can’t meet the aid terms, “it’s up to Greece to figure out how to get financing without the euro zone’s help,” he later said in a speech to parliament.”

“European bank credit risk surged to an all-time high today and stocks fell worldwide on concern that the debt crisis is escalating. German two-year yields declined to a record as investors sought a haven and Greek two-year note yields added as much as 86 basis points to 55.91 percent, a euro-era record.

Credit-default swaps insuring Greek sovereign bonds jumped 212 basis points to a record 3,238, according to CMA. The five- year contracts signal there’s a 92 percent probability the country won’t meet its debt commitments.”

http://www.bloomberg.com/news/2011-09-09/germany-said-to-prepare-plan-to-aid-country-s-banks-should-greece-default.html

[scaredyclassic]

Greek defaulted or Creek defaulted?

[Arraya]

They just issued a warning of a downgrade for French banks that have exposure to greek bonds.

[KIBU]

What would have Aristotle do in this case???

[Arraya]

[quote=KIBU]What would have Aristotle do in this case???[/quote]

Buy short term treasuries?

[enron_by_the_sea]

Still waiting …

[briansd1]

Interesting article by George Soros.
I think he’s a brilliant man.

http://www.nybooks.com/articles/archives/2011/oct/13/does-euro-have-future/

[Veritas]

“For the first time ever, a clear majority (60%) of Germans no longer sees any benefits to being part of the Eurozone, given all the risks, according to a poll published September 16 (FAZ, article in German). In the age group 45 to 54, it jumps to 67%. And 66% reject aiding Greece and other heavily indebted countries.”

http://www.zerohedge.com/contributed/bailout-rebellion-germany-heats

[KIBU]

Euro maybe next after Greek default.

http://www.bloomberg.com/news/2011-09-16/europe-rules-out-stimulus-offers-no-bank-aid-at-geithner-parley.html

[Veritas]

chaos theory:

[Author]

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