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<p>[QUOTE=&quot;fatima, post: 1361204, member: 22143&quot;]This isn&#039;t especially bad news for Greece.&nbsp; In fact it means the shackles come off their ankles.&nbsp;&nbsp; The bad news is for the TBTF banks holding the debt.&nbsp;&nbsp; This includes some of those here in the USA that are mixed up in the mess taking risky bets again.&nbsp; What remains is how much their host governments or institutions will again take over the responsibility which means socializing the debt.&nbsp;&nbsp; Greece is a member of Nato and a member of the EU (which is separate from the Eurozone).&nbsp; If they let their currency fail and go back to the Dracma (?) then I don&#039;t see how they could be shut out of the world financial system.&nbsp; </p><p><br /></p><p>It should be noted that Greece has a considerable amount of gold for a country its size.&nbsp;&nbsp; This is the central banker currency, so their new central bank should have no issues.&nbsp; The country will have de-leveraged, items will cost a lot less.&nbsp; </p><p><br /></p><p>The real issue of course is this is the tip of the iceburg.[/QUOTE]</p><p><br /></p>

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