Greek end game is at hand

[marmar]

FRANKFURT (MarketWatch) — Financial markets indicate Greece’s chaotic sovereign-debt saga is moving inevitably toward default, economists said, leaving European leaders and policy makers scrambling to avert a potentially disastrous domino effect that could wreck the euro and send the global economy into a tailspin.

German Chancellor Angela Merkel, French President Nicolas Sarkozy and Greek Prime Minister George Papandreou are slated to hold a conference call late Wednesday afternoon as Greece finds itself under pressure to implement further austerity measures in an effort to meet its deficit targets.

But many economists fear policy makers have failed to grasp the imminent likelihood of a Greek default and the damage it could do.

“The risk of a banking crisis is very real. I don’t think policy makers have the luxury of time in getting ahead of this,” said Neil Mackinnon, global macro strategist at VTB Capital in London. ............(more)

The complete piece is at: http://www.marketwatch.com/story/end-game-approaches-for-greek-crisis-2011-09-14

[blindpig]

1. End game for the parasitic bankers perhaps...

the Greeks will still be there, and perhaps they will grasp the opportunity to be free of those vampires once and for all.

[dixiegrrrrl]

6. They go, then the Euro zone goes, and we go, soon.

price of the global inter-connection thing.

The Euro zone is playing the lifeboat game, Ireland and Greece were the first to be tossed over.
but you know how that game ends.

[leveymg]

2. "If it can feel fear, we can win" - Heinlein. Sovereign debt default truly scares the banksters.

[marmar]

3. The dreaded Brain Bug

nt

[xchrom]

4. that movie is so much fun. nt

[FLPanhandle]

5. The French banks own most of the Greek debt followed by the Germans

However, the French & German taxpayers aren't as willing bail out their bankers.

The Greek situation isn't a surprise, everyone saw this was inevitable.

This type of story is just designed to scare people into supporting a bailout.

[Romulox]

7. I'm not sure if the Europeans really understood what "single currency monetary union" meant. nt