Spreadex Market Update
Greek bailout to be delayed?
However, allowing Greece to disorderly default would have catastrophic affects to the euro area.
It would most likely lead to the collapse of the Greek banking system and could cause a domino effect, putting severe pressure on countries such as Italy, Portugal and Spain’s sovereign debt.
If these countries raced the wall then even with China’s help in boosting the EFSF would prove rutile.
We are in a delicate situation at the moment.
The question to ask is whether it will be Political or Economic sense that prevails.
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