Greece

[cottonpicken]

Looks like she is coming to a head,got until the 16th to figure things out.

If its a default,thats 340 billion up in smoke,most of that has already been moved out of the financial sector and onto institutions like the imf,ecb,etc so there shouldn't be much blowback,the way i understand it.

How ever the derivatives number i just read was 3.4-4 TRILLION,which obviously can't be paid by what ever institution sold them,so what happens to the largest market in the world after that?

[SASKFARMER3]

What about the rest of the pig nations.
Portugal Italy Greece and Spain.?
Will same thing happen their and then what!

[cottonpicken]

Ya,those guys need to be dealt with also quite a mess.

Oddly enough this video sums it all up,worth the watch.

https://www.youtube.com/watch?v=LyePCRkq620

[rkaiser]

Ha - good one cotton... funny how that printing money out of thin air thing works. Funnier yet is the fact that the banksters who created the "money" to buy the bonds from these silly countries made off with the interest.

Not sure what your "pig" comment intends saskfarmer?

[cottonpicken]

To bad the voters went left,the debt has to be restructured and they need their own currency to work there way out,but they are already talking about raising the minimum wage,next will be price controls and shortages.

Austerity is a consequence not some sort of choice.