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by giusemir1978 5235 days ago
I believe James is right on several points: especially when it comes to news, fear sells a lot.

Regarding Greece, a default would be more a political problem rather than an economical one: European Union is a loosely tied bunch of states with conflicting interests such shock could shake them apart even further.
1 comments
jpdoctor 5235 days ago
> Regarding Greece, a default would be more a political problem rather than an economical one

It's both. He cleverly ignores the real issue: Whatever happens in Greece is going to set the precedent for Portugal, Spain and Italy.

Or to put it another way: The only way to save Greece is to give them a pony. Then everyone is going to want a pony.

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giusemir1978 5235 days ago
Agreed for portugal and spain.

Regarding Italy, we have a too big debt to repay. Either we make it or break the european union alltogether.

I dont believe France and Germany are going to give us a pony, nor I believe they have the funds to do so :-(

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