We expect Greece and the troika will negotiate a managed default and exit from the EZ for Greece in early 2013.
Mr. Wenzel, does this mean that now is the time to plan that long-desired trip to Greece for the best prices will be in effect AFTER the exit? A Travel Vulture circling
Sorry, my french is a bit rusty, but No Fucking Shit, oh great Nostradamus of the patently and painfully obvious. For this you need a degree from Harvard University, teach at Yale, and work at the International Monetary Fund (IMF), the Federal Reserve, the World Bank, and Bank of Israel? On the other hand, his resume does explain a lot. What puzzels me is that otherwise intelligent people listen to this clown. As for me, "We are not amused." [Touch pearls and wave]Methinks we should make all economists wear helmets and ride on the little bus...
As a caveat to this posting, I'm curious, how many of you actually believe CDS will be allowed to be triggered?Not legal? No problem TPTB will just change the rules or utilize the legislative branch to interpret the rules so that it becomes legal. Think MFG, Peregrine Financial, or even Obamacare.Of course this will totally shatter market confidence and further exacerbate our economic problems, but who cares right? We haven't had a true free market for decades.