Quote Originally Posted by barbaro
Greece is fading from the news
More like it just won't stay out of the news.

Look, the country is fucked on a spindle, they are within days of default, they have an ace up their sleeve though.

If Greece goes bust and defaults, initially the Euro will dive. (note: that this is good for the all important German exports).

However, the Euro will bounce hard when the world sees that the Eurozone and it's currency are to be taken seriously, due to them not baling out Greece.

The Euro will gain strongly against the U$D and that will fuck the recovery / strength of German exports....which is the last thing they want / need right now.

^ All this is the reason why Greece have been quite arrogant about the whole matter(even fearlessly mentioning the war and Nazis etc), they know that the above scenario will play out if the don't get their bailout, in a way they have Germany over a barrell.

Yesterdays downgrade and their ten year hitting 8-9% was just another couple of nails in their coffin.

The next few days are gonna be fun