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sender says 12 years ago
If Greece does default, it would be the third time in the last 2+centuries that it had defaulted. IF Greece defaults, what’s the implication for singapore; any?
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Preparing for Failure of Greece
The talk in the market is that the European Financial Stability Facility or EFSF will be expanded from its current €440 billion to €2 trillion. That is a massive amount of money.
This video analysis (done a few weeks ago) predicts that €2 trillion of funds will need to be ready before Greece can be allowed to default.
And as strikes in Greece intensify and credit ratings of Eurozone countries and banks continue to be downgraded, surely we are approaching the day when Greece will default and/or be booted out of the Eurozone.
This proceedings (or non-event) of this weekend will be crucial.