Chief Market Analyst at FX SolutionsThu, Sep 15 2011 15:00 GMT
Duration: 0 h, 45 min
Moderator: Vicky Ferrer
What are the implications of a Greek default? Ignore the protests and promises of the Athens government. Believe the credit markets. There is no way out for the Greek government, the euro or the European Union except restructuring. It will not be immediate, Germany and France will want time to prepare their banks and the continental system for the coming writedowns, but it will happen before the end of the year. The crucial countries are, as they have been throughout this crisis, Spain and Italy. If they are priced out of the credit market the path through default become much more dangerous and the future of the euro and the EU far more fraught.
Recording of the webinar