Saturday, 24 September 2011

Fears Over 'Shockwave' Of Greek Debt Crisis

According to senior G20 sources, the assumption now is that the country will have to default on its debt by as much as 50% – on top of the 20% voluntary restructuring already agreed in July.

And so whereas efforts some months ago were aimed at preventing Greece defaulting, the Eurozone, and its G20 colleagues from the world's biggest economies, are instead making secret plans to build a firewall protecting European economies such as Spain and Italy from the prospect of a buyers' strike...

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