Greece defaults!

[sasguru]

Placeholder for now

[DimPrawn]

Greece is the word..

[wobbegong]

Greece is the word..

Actually, the bird is the word.

[administrator]

Placeholder for now

Git!

Greece is the word..

It's got debts and it's leaving.

[DimPrawn]

Greece is the way we are feeling...

Gold reaches record high as markets stressed by banks and eurozone worries - Telegraph

[scooterscot]

Aye.

Not contented with breaking up the union of the united kingdom the speculators look at what other unions they can break up.

I feel they'll not be met with success on this one, the reason being the sense of union is far stronger on the continent than here in the UK. For some Londoners that is out-with their understanding.

[sasguru]

I feel they'll not be met with success on this one, the reason being the sense of union is far stronger on the continent than here in the UK. For some Londoners that is out-with their understanding.

You really are a moron, aren't you with your romantic views of "sense of union"?
Lets see how this this sense deals with the cold hard facts of basic economics i.e. that many Europeans have paid themselves far too much to do bugger all.

[scooterscot]

You really are a moron, aren't you with your romantic views of "sense of union"?
Lets see how this this sense deals with the cold hard facts of basic economics i.e. that many Europeans have paid themselves far too much to do bugger all.

Like Londoners?

It seems to me those who shout loudest are destined to fall the hardest. How rage will manifest itself.

[doodab]

The US is more likely to default than Greece IMO.

The rump of the repayment of Greece's outstanding debt was due in 2010. Once they get past the end of this year, which they will, they are home free. Even if the markets refuse to lend to the PIIGS at all you are talking about perhaps €600 billion more in loans from the ECB being required. It's a lot of money yes, but not beyond the realms of possibility so I don't believe there will be a sovereign default in the eurozone at all.

The US government is being held to ransom by ideologically motivated fundamentalist lunatics. Far more dangerous than what is going on in Europe.

[minestrone]

Spare the rod spoil the child, they have to be taught a lesson in my view. They seem to have no concept of the shit: they are in and the people that run Europe have no concept that they have to be hung out to dry on this.

The fragility of the European financial system is so evident when a loose cannon under performing state on the periphery of the continent is dragging the continent down and Germany and FRance have to learn that as much as Greece has to learn 2 day weeks and 15 month salaries are unsustainable.