Quote:
Originally Posted by username
Well I'm still hopeful that Greece is going to pull through all this. If nothing else, I can see the States stepping up. The stock market is critical to sustaining their job recovery.
I can see the TSX hitting 11000 before it rebounds. I'll be buying more when that happens.
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Greece is effectively insolvent. They are bankrupt. The bailout package only gets them through the next 3 years tops. Bonds will rollover at that point and there are no likely scenarios that they will grow enough in that three years to give an investor any plausible reason to want to invest further. They are not pulling out of this.
The nuclear option is the only way out at this point. They are going to leave the Euro-zone, adopt a new currency and devalue the shart out of their debts to get out of this.