Greek tragedy may be dress rehearsal for bigger crisis
Mar 09 2010 The Standard
In December I noted that if Greece was left to default on its bonds (without a bailout) this would lead to skyrocketing interest rates on Irish, Italian, Spanish and Portuguese debt followed by a nightmare domino-effect sovereign debt collapse/national bankruptcies across the entire eurozone.
Carl Heinz Daube, the head of German's debt agency Finanzagentur told the Euromoney bond congress in London that "if one member of the eurozone were to step out for any reason, this would be a collapse of the entire system."
http://www.thestandard.com.hk/news_detail.asp?we_cat=16&art_id=95404&sid=27324052&con_type=1&d_str=&fc=1
9
March
Greek tragedy may be dress rehearsal for bigger crisis
Mar 09 2010 The Standard
In December I noted that if Greece was left to default on its bonds (without a bailout) this would lead to skyrocketing interest rates on Irish, Italian, Spanish and Portuguese debt followed by a nightmare domino-effect sovereign debt collapse/national bankruptcies across the entire eurozone.
Carl Heinz Daube, the head of German's debt agency Finanzagentur told the Euromoney bond congress in London that "if one member of the eurozone were to step out for any reason, this would be a collapse of the entire system."
http://www.thestandard.com.hk/news_detail.asp?we_cat=16&art_id=95404&sid=27324052&con_type=1&d_str=&fc=1