Monday, 18 April 2011

Greece Denies Restructuring as Traders Raise Default Bet

http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=a4Tcp8daAfM8

I dont Greece is in a situation to choose whether to default or not.
It is an insolvent country.
The market will decide and it looks likely that the market is tired of carrying the burden.
2YR rates at 20% imply a default!!!!!!!
Sooner or later - it is not a matter of how but when...

As I had said last year - Greece will DEFAULT
Time to but PUTS on EURO

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