Re: Re: Demise of the Euro closer? – Ignore this if it bores you

#105034

logan
Participant

http://www.bloomberg.com/news/2011-06-12/trichet-holding-a-gun-to-own-head-on-greece-chart-of-the-day.html
The cost of insuring Greek debt is becoming unsustainable whilst the ECB and Germany stare each out in classic stand off.
The question is who will blink further. The FT this morning believes we are looking at the start of the end game for the Euro. Standard & Poors yesterday lowered Greece to triple C rating, the lowest in the G20 and probably most of the world.
Restructuring or default by another name looks inevitable.
The recriminations in the Eurozone are likely to be far reaching.