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This is a topic from the Current Politics and Religious Topics forum on inthe00s.
Subject: S&P slaps 'default' label on Greece's $28bn debt restructuring package
Written By: LyricBoy on 07/04/11 at 3:08 pm
Interesting development in the saga of Greek's debt.
http://www.guardian.co.uk/business/2011/jul/04/greece-greek-debt-austerity-default
I never saw the Euro or the 'European Union' as long-term solutions, and this situation of the Greek debt being a nearly intractable problem to solve is the beginning of the end for the Euro. Get your marks, lire, francs, pesetas, escudos, and drachmas ready.
At this time I don't see the Greek thing as a huge threat to the EU... yet.
Subject: Re: S&P slaps 'default' label on Greece's $28bn debt restructuring package
Written By: Foo Bar on 07/04/11 at 9:37 pm
So the ECB says "Meh", accepts greek bonds as collateral, and we muddle on through. As long as that happens, (and seeing as how the futures are flat, the market seems pretty confident at this point) on schedule, there's nothing to worry about...
yet.
well, yeah. That. :)