Greece is the word & vigilant is the way we are feeling :)
I'd say many of us have/continue to suffer from GFS, including myself, am currently 50/50 cash/equities..
The bond swap deal with private investors saw participation reach 95.7 per cent....
Markets have rallied on the strength of the deal but I doubt that it will take long for investors to start worrying again. Most European investors have already switched off – victims of Greek fatigue syndrome – while everyone else reckons Greece will eventually have to default to get its debt down to a manageable level while suffering an appalling Depression. It's simply not possible to reduce debt while the economy is shrinking as rapidly as Greece's is – the only way to do so is to default.
Question is...has the market already priced any impact in?
A good point made by David Buik, banks & markets have had years to make the adjustments etc, you would think so and notwithstanding any shocks from Italy, Portugal, Spain & together with BRIC nations & recovering US economy then it's not all doom & gloom, global growth still possible and might be a matter of finding the green patches.
Back to Greece...worthwhile viewing:
Greece 'cannot sustain debt'
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