This Greece business has been one hell of a circus.
I mean, the goddamn Nazis were pulled into this.
Doesn't help they let some socialist clown take top spot and have fascist, far right morons parading about.
Either could happen.
My response concerns the payment that is due to the IMF on June 5. I don't expect Greece to default on that payment. It would have far too much to lose e.g., almost certain end of ECB support for its banking system, to default.
If they can't make the payment, someone will bail them out. I hope it doesn't have to be us.
Sent from my TVC 15, using squelchalot.
In fact, I've bet heavily on the Euro, buying European stocks and currency which right now is selling at an insane bargain. Once Greece makes a deal with the EU and international confidence restored, the Euro will strengthen and I will make a killing.
"A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"
Cicero Marcus Tullius
If you are talking about international confidence in Greece and the Greek economy, that will take decades - at least.
If you are talking abot the Euro, then I would argue that international confidence in the Euro will be heightened by a Greek default and exit.
They can't afford to pay what they owe, but I suspect that financial help will keep coming in different ways to prevent that looking like a default. I hadn't factored in the worry about increased Russian influence in Greece if it were cut loose from the Eurozone. If that's a worry taken seriously in the EU, then this will take precedence.
I suspect that Germany and other eurozone nations will force Greece to let them intervene more in its economic affairs to make the structural changes to the economy necessary for longer-term stability. The worry for me is that this will be a back door to greater political integration in the EU, as part of the "ever closer union" pipe-dream.