[FoRK] World stocks dive on Greece turmoil
owen at permafrost.net
Wed May 16 16:38:47 PDT 2012
If they refuse the bailout and end up out of the EU, the concern the markets have is that they won't be the only
country to end up out. The word "contagion" is being used. The EU can probably survive without Greece, but not without
Greece, Ireland, Spain, Portugal and Italy.
On Wed, May 16, 2012 at 04:23:29PM -0700, Ken Ganshirt @ Yahoo wrote:
> I don't comprehend this [stock market silliness]. It doesn't matter what Greece does; they're screwed anyway.
> If they refuse the bailout and continue deficit spending they're screwed and will default.
> If they accept the bailouts and try to implement the brutal austerity measures that are the condition for the bailouts they're screwed and will default.
> The only question is which course will force them into default quicker.
> Can someone tell me why the stock markets are in such a tizzy about this at this point? It should have been obvious months ago what the outcome will be and should already be priced into anything that might be affected by a Greek default.
> ..... Shouldn't it??
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