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IV I agree this issue will come back in 2012 but depending on when the Greek debt matures, a % of it would have been converted to EU or IMF debt or even ECB debt so market turbulance shouldn't be very high. Unless ofcourse any the other med club countries run into trouble but IMO this is...

Nice 1 Jon :)

Player IMO this is an exaggeration. It's going to be longer than several months to see the austerity measures work because consumption and business activity jumps during the summer months. You're probably aware that the Greek population jumps significantly during the summer months because...

Sunfish I agree, it's not pretty out there and current share prices haven't adjusted for the amount of risk visible in the horizon. The risk of government defaults is currently small but is increasing. The problem is with government deficits worldwide which are at record high levels and...

Good point Sunfish, I agree and I think it is long overdue

Which part? that the markets went down? Its due to fear that large players will head for the exits. I wonder if an EU wide ban will be implemented. http://www.time.com/time/business/article/0,8599,1990216,00.html?xid=rss-topstories The UK where most of the big hedge funds are...

I think Spain and Portugal are safe for now. Regulation is coming and the hedge funds will soon be looking elsewhere to make a quick buck. Maybe they are shorting the AU$ now? http://dealbook.blogs.nytimes.com/2010/05/19/do-funds-share-the-blame-for-new-e-u-rules/...

In a year or 2 it could be the other way around. The US debt is still going up

isn't this good for their economies? A lower Euro will make imported products more expensive but it will make the Eurozone products cheaper in other countries and the Eurozone tourism industry should benefit from this as well. IMO they should let their currency slide a bit more to make...

For the Germans? One word, control. They went to war over it so they wouldn't let go now

It's possible because unlike the US although they have a monetary union they don't have an economic union. In recent times though they've got closer together and now the ECB is even buying bonds of member countries so it seems to me that they're going in the direction of a complete economic...

The rules will not change for us because 1. our bank profits are going up and up and up at our expense....:eek: 2. Oz bank exposure to bad loans is minimal 3. Those with money want returns and Australia is considered one of the safest places in the world atm

You haven't thought of this clearly. If the GFC gets worse interest rates will be coming down so just about any IP will be positive geared. Even high end properties will become affordable so I don't know how property prices can come down by 40% in that environment, the market forces won't...

Markets have “pushed Greece down the stairs” Now having pretty much succeeded with Greece, the emphasis is on Portugal and Spain. http://www.swissinfo.ch/eng/politics/Markets_have_pushed_Greece_down_the_stairs.html?cid=8835558

The Greeks and other Europeans are not entirely at fault here. It all started with subprime loans a couple of years ago and the bailing out of the banks. Lack of regulation comes to mind. The rating agencies, financial markets and large financial players were meant to be regulated a couple...