Greek Default

[joggerjayne]

It's going to happen, isn't it.

Why are we wasting more time a resources trying to avoid a Greek Default?

That's 350,000,000,000 Euros that we are not going to see again.

The UK's budget for the next few years has been based on several billion Euros coming back from Greece.

And that is just not going to happen.

So ... where do we start cutting back??

And, given that the Euro is set to implode, shouldn't we all be selling Euros, with forward buy options to cover our short term positions? We could all make a killing. Or is the market already ahead of us on that one? Surely not ... because the market can't position itself based on the Euro collapsing, because most holders of big Euro positions will be hoping that Greece doesn't default (some hope!). Or will they have hedged? Am I waffling? I'll shut up now.

[scotman]

Don't know if you are waffling or not. Safer option is to buy gold.

[carolegif]

They are going to default anyway, so why give them the money? Let them default on the smaller sum, not with this as well.
It's all academic as if Italy go under then no-one has enough money to bail them out.
Why don't we wipe out all debts and start again?

[joggerjayne]

I think all the debts will be wiped out, in the end.

That will leave a huge financial black hole ...

... which, as usual, will have to be filled by us and Germany.

=0(

[emmie]

Germany and France don't want that to happen, as that will lead to more problems for them surely.

[R1Geezer]

JJ, we ain't in the Euro, we are'nt paying, well not any more than our standard dues.