The end is near! Batten down the hatches! Run to the Hills. Greece may default to lead global depression
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From CNN today:
Analysts warn that a Greek default could cripple the euro, the European Union’s common currency, and send shock waves throughout the world economy.
“If Greece were to default, I think the idea that you could contain that would be fanciful,” former British finance minister Alistair Darling told CNN Wednesday.
“It’s a bit like saying, ‘Let’s let Lehman’s go bust again and wait and see what happens,” he said, referring to the investment bank that collapsed in 2008, adding fuel to the global recession.
An acute crisis in Greece would lead to a chain effect that “probably wouldn’t stop in Europe,” he warned. “It would have a feedback to American banks and so on.”
http://www.cnn.com/2011/BUSINESS/06/22/greece.debt.crisis/index.html?hpt=hp_t2
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