Telegraph Live - Greece: Reports in its 2.04pm post the following, “ Euler Hermes, the world's biggest trade insurer, has suspended cover for exporters shipping to Greece ..”, on the fear that Greece will not be able to pay its debts should it either leave the Euro or be forced out.
Lets Get Real:
If the big private companies fear that Greece is going belly up its time for the banks to off load their Greek debt, also invoke their insurance policies. The June 17th election in Greece might not be that clear cut, as noted in its 3.30pm post recent Greek Polls indicate that “ it's probably split 50:50 over who will win - anti-bailout Syriza and New Democracy. ”. Thus if Greece is seen as goner in the private sector, one has to ask how fast that end will hit Spain. The French and the Spanish want Euro Bonds as to help with Euro debt, the Germans have said NO. Thus we might be seeing the start of the end of the Euro folks, the German taxpayer is not going to bailout Greece and Spain, it will not pay for French election promises, thus rough seas ahead folks for Euro and the EU.
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