• The Economic Spy
The Greek debt crisis and it potential impact on all of Europe!
The endgame of the Greek debt crisis seems to be approaching quickly and, in an article by Mohamed El-Erian of Pimco, how that goes will play a huge role in how the rest of Europe will go for a decade or more!
Greek debt crisis by the numbers
If the yields Greek debt is currently trading at and the cost to buy insurance on that same Greek debt through credit-default swaps are any guide, the moment of truth in Greece is very quickly approaching. Add to the mix the violent protests in the streets and something is going to have to give there very soon.
As discussed before there are no situations or crises taking place around the world that are occurring in a vacuum. In a global economy all are intertwined. Were Greece to default or the crisis to escalate, an initial impact would of course be felt in the EU of which Greece is a member, with other members of the PIGS, Portugal, Ireland and Spain coming under intense a
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