Without Central Bank guarantees Greece would be paying 16% on its debt right now, according to the chart in this article. If Greece exits the Euro Zone this article points out a number of likely consequences. One that they didn't point out is the way it would probably shock investors the world over into reality when it comes to the safety of government issued debt. Makes you wonder how long it will be before the Fed loses the ability to suppress our interest rates. I guess they could avoid that if they were the sole buyer and we simply financed all our debt with the printing press. Wait. Aren't we doing that this quarter?
Athens Mulls Plans for New Currency: Greece Considers Exit from Euro Zone - SPIEGEL ONLINE - News - International: www.spiegel.de/international/europe/0,1518,761201,....html
http://chum.ly/n/8b9363
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