View: Greek bailout creates upside, Greek chaos creates downside. Easy bet.
Greek problems continue to unsettle markets, evidenced again on Monday. Of course, investors are right to be nervous, simply because the consequences of failure are so great. It’s not just the debt restructuring talks either with the Greek government under pressure to implement further budget cuts in order to qualify for the next disbursement from the €130bn bailout fund. Failure of either discussion could trigger that much-feared default when that €14.5bn redemption hits on March 20th. The fact that officials from both sides keep setting close deadlines that in turn are missed and PM Papademos’ request the Finance Ministry produce a report on the implications of a default and Eurozone exit are not particularly helpful either.
Full article below….
- Revisiting The Greek “Razor’s Edge” (zerohedge.com)
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