Greece will Default = Business Secretary Cable

Guardian: Reports on remarks by the Coalition Business Secretary Vince Cable that Greece will default on its sovereign debt. The Germans will go bonkers over this idea, as they hold a great deal of Greek debt as the article notes. If this is the solution then the Euro is heading the same away as the USSR, the shockwaves will make the 2008 bank bailout look like happy hour. It can be postulated that nearly all European banks have some of the Greek debt, if Greece goes bust then these banks will be heading back to their own Government for another bailout. One can say with some justification that the Euro is the banking versions of AIDS, you have HIV first, the banking collapse, you throw money to prevent near fatal banking collapse, e.g drugs to prevent AIDS, but then after all the drugs at the end of the day you get AIDS and death in the short or long term. Graphic language folks but that is the TRUTH.