Bert Dohmen
"A Greek default is now inevitable and will result in restructuring of the debt. This means that the holders of Greek bonds, primarily the large European banks will have to write down tens of billions of dollars of bonds. And that is the problem, not Greece. This is why the global stock markets are responding immediately to any news coming out of Europe.
You can be sure that the focus in Germany, France, and other Euro-zone countries now is to build a wall around their domestic banking system, protecting it from a Greek default. "
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