24 January 2012

EUROZONE / GREECE : When Is A Default...NOT A Default?


     Apparently...a forced Greek default is near...because eurozone finance ministers wouldn't agree to what the banks call their final offer for a 2nd bailout burden...a 4% interest rate.
    One creditor told REUTERS that Greece is headed down the same disorderly debt road last trod in 2002...by Argentina.
    Some claim Greece...is already in default...as time runs out for Athens.
    It needs E14.5 bn by 20 March.
    It has a few technical options.