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Europe Must 'Acknowledge' Greek Default: Economist
A Greek default is coming and the European authorities trying to avoid it will have to face up to it eventually, a leading economist told CNBC Monday. "Eventually we will have to acknowledge that in fact there's a Greek default and take it from there," Sir Howard Davies, former director of the London School of Economics and former chairman of the Financial Services Authority, the UK banking watchdog said. "We are dancing on the head of a pin here, in trying to pretend that the default is not a default, but it's quite clear that nobody would lend to Greece at the moment in a free market." Greece would likely be in ... (full story)
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