1st November 2011
MF Global files for Chapter 11, Greece promises a referendum on their bailout package and growth predications for the economy are cut once again. Just another Monday in the financial markets. It looks like nobody asked Greece whether they wanted a bailout. It is off course Germany and France who want the bailout for Greece not the Athenians themselves.
Merkel and Sarkozy and their countries hold a vast amount of Greek debt and explaining to their respective constituents that they have lost a vast amount of their money would cause mayhem.
The riots we have seen are nothing compared of what is to come unless respective houses get their books in hand. The question lies what else or who else is in the firing line
Posted by Andrew Johnston
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