EU Stance Shifts on Greece Default
Posted by MikeRuppert
on Wednesday, 13 July 2011 in Founder's Corner
MikeRuppert
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This is the financial equivalent of the parting of the Red Sea. Actual default is being recommended by the EU. Bondholders can take a hit, and the impact on all bonds for every nation will be dramatic. Once that door is opened there will be a lot of "disorder" following. There is no doubt that DSK's resurgence and the fall from grace of the French plan have had some bearing on these developments. DSK was the guy who favored haircuts. Let's hope the fight between the factions gets nastier so we can learn more.
We have more details on the World News Desk. It's going to be a hell of a week. -- MCR Read the full CNBC article here.
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