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<p>[QUOTE=&quot;fatima, post: 1360364, member: 22143&quot;]Greece has technically defaulted and those bond holders won&#039;t be paid unless Germany &amp; Northern Europe forks over the cash.&nbsp; In response, over the weekend, there has been some discussion of Greece losing some of its sovereign rights to Brussels.&nbsp;&nbsp; Greece is of course, against this.&nbsp;&nbsp; This is the unraveling that I was talking about as there isn&#039;t enough money in the world to pay the debts back.&nbsp;&nbsp; Austerity in Greece is meaningless at this point as there isn&#039;t anything left there to take.&nbsp; </p><p><br /></p><p>What is most likely to happen is the US Federal Reserve will announce another round (or won&#039;t announce it) of QE, use the money to indirectly buy these Greek bonds so the banks holding them won&#039;t fail, and the problem, now larger, gets pushed into the future.&nbsp; There is some GOP resistance to this happening again.&nbsp;&nbsp; In the end, it becomes our problem if so.[/QUOTE]</p><p><br /></p>

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