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Wednesday, November 7, 2012

Consequence of Greek default

Chris Giles, Russell Birkett and Cleve Jones , in the FT of May 21st, produced a graphic of a possible Greek default.
Today, the Greek parliamentary vote will decide on the "morning after".
If the vote is NO, as SYRIZA calls for, a default is the most likely certain outcome, and the linked graphic applies. This, of course, is pure scaremongering, if one listens to SYRIZA.
Because I am ideologically terrorised by SYRIZA I will, as of this moment, stop being a scaremongerer(sic).
What might the second best lower-than-nightmare scenario be?.... Well, there isn't one, because ït's, at the least, the EURO-core politics, stupid!
I told a friend not to panic some months ago. Tonight, after a NO vote, I intend to call him up and tell him that he is free to panic.

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