IMF and Greece

Telegraph Live - Greece: Reports in its 4.34pm post that the head of the IMF Christine Lagarde has stated there are plans for a Greek Exit:

Lets Get Real:

Of course the IMF and the rest of the EU has plans for a Greek exit, one would not be shocked if these plans were created months ago just in case the Greeks came to this point. One can even postulate that the two bailouts given to Greece were a plan to delay this moment in till the EU was ready to take such a shocking event. The question is what will be the contagion to the rest of the EU banking system, will Spain with its own problems be in need of a bailout, the general view is that Spain is close to asking for such a bailout. A Greek default could just push Spain over the edge, it would depend how much Greek bonds are held by Spanish banks and can the Spanish Government cover their losses. Dark days ahead for Greece and Spain folks, and Italy is not out of the woods either, over 20 of their banks have seen their credit downgraded. Lets see who is next to fall of its perch, Spain, Italy?