I don't think there's any doubt that Greece will default. Austerity is gutting the Greek economy.
http://blogs.telegraph.co.uk/finance/author/ambroseevans-pritchard/
If they do default, all hell will break loose, at least for a short time on financial markets, until it's sorted out just who is going bust and how bad it is.
Redbacka
jgunters - volatility withdrawal - thursday, page-14
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