Germany Said to Ready Plan to Help Banks If Greece Defaults

[ruger17hmr]

Germany Said to Ready Plan to Help Banks If Greece Defaults


The moment of truth has arrived.

Greece finally on a chopping block or on a
"knife's edge" as one prominent German leader eloquently described.

I wonder how much of an impact the Greek default will have on the World economy.... Hmmmmmmm.


Germany Said to Ready Plan to Help Banks If Greece Defaults - Bloomberg

 

[jeremy]

Interesting times we are living in, Interesting Times...

 

[John Galt]

The unsustainable is becoming unsustainable. "You can evade reality, but you cannot evade the consequences of evading reality." - Ayn Rand

 

[Expat]

We have had plenty of warning this was coming. So no real surprise. PM Thatcher told us many years ago about running out of other people's money. Hopefully our own pols will start paying attention. Or at least after just one more stimulus bill.

 

[ruger17hmr]

We have had plenty of warning this was coming. So no real surprise. PM Thatcher told us many years ago about running out of other people's money. Hopefully our own pols will start paying attention. Or at least after just one more stimulus bill.

Greek experiment with the forced austerity measures did not work out too well. Although one must argur Greece was not an optimal candidate for the test.

 

[g+16]

Us Germans allways have a plan, did'nt say it's good plan

 

[indykid]

With the GDP of Greece ranked somewhere near the 30th in the world, and their debt as I remember the numbers at about two days of spending by the US government, we could bail them out and not know we spent anything.

While they are a player in the Euro market, I am astounded that failure on their part would destroy the world economy, and did cause the loss of over $300 (points) in Wall Street!

 

[Big Naughty]

It seems like a race to the bottom between the Euro and US dollar. Luckily for us it seems like so much attention has been brought on Bernanke that he's scared to put the printer back on warp speed. We'll still suffer when the Euro tanks and banks default

 

[ZombieApocolypse]

With the GDP of Greece ranked somewhere near the 30th in the world, and their debt as I remember the numbers at about two days of spending by the US government, we could bail them out and not know we spent anything.

While they are a player in the Euro market, I am astounded that failure on their part would destroy the world economy, and did cause the loss of over $300 (points) in Wall Street!

Very similar to how Libya produced 2% of the worlds oil, yet prices skyrocketed when Libyas war started.

I think it was Job Stewart that had a chart showing the debt owed per capita, between the US and Greece. The US has a larger debt per capita than Greece does. Sure we have more people, and money, but this astounded me when i say that, and yet the state of the US isnt driving markets lower? All news outlets were saying "Eurozone" not "US"

 

[ruger17hmr]

Very similar to how Libya produced 2% of the worlds oil, yet prices skyrocketed when Libyas war started.

I think it was Job Stewart that had a chart showing the debt owed per capita, between the US and Greece. The US has a larger debt per capita than Greece does. Sure we have more people, and money, but this astounded me when i say that, and yet the state of the US isnt driving markets lower? All news outlets were saying "Eurozone" not "US"

It is the world of derivatives that are responsible for this chaos.

The world fianncial system is deleveraged to the tilt much like the house of cards. One insignaficant piece will trigger the total collapse. However, I have a feeling the Feds and ECB will come to the rescue yet again. They will do everything in their power to keep the integrity of current financial system intact.

 

[RockofStrength]

With the GDP of Greece ranked somewhere near the 30th in the world, and their debt as I remember the numbers at about two days of spending by the US government, we could bail them out and not know we spent anything.

While they are a player in the Euro market, I am astounded that failure on their part would destroy the world economy, and did cause the loss of over $300 (points) in Wall Street!

If Greece starts to crumble and the EU doesn't bail them out, then it sets an example for the other PIIG nations. If investors hear that Greece is going to be permitted to default, crap could be hitting several industrial fans.