greece, page-35

"Its going to be MUCH worse than the GFC."

And it could start sooner rather than later.

What about the Greek bond holders who all took a 60% haircut on their bonds? Does a default now mean they get 30% back or ALL of it back via the credit default swaps?

Me thinks the deal is off and they are entitle to get it ALL back! And we all know the credit default swaps are not worth the paper they are written on. This means the banks could tumble like dominoes.