Dislikeda person working in bank told me that the effect of greece is actually no threat to euro.... its just the hype created by traders and media....Ignored
The biggest problem is the CDS's sold on Greek bonds,its 3 times larger
than the Greek bond market,that means two thirds of these have been
taken with a strong interest in a Greek default rather than just insuring
your bond portfolio.A payout on a default would send the world into a black hole.
I herd at the weekend that one of these CDS's pays out 400 to 1,
who the hell was writing these things?
Greece is a basket case,don't get me wrong but this doesn't help.
You can remain irrational longer than you can remain solvent.