Quote from: phoenix1 on June 15, 2015, 10:58:18 PM

Quote from: elux on June 15, 2015, 10:51:53 PM

Quote from: AtheistAKASaneBrain on June 15, 2015, 10:47:23 PM

When you look at the problem as a purely Greek monetary problem, you have already failed in your analysis and conclusion.

Lets say that Greece does default. It is a relatively small amount of money and the loses are spread out over the whole world thanks to the IMF.

Its not the money, its the confidence in the union that will take the bigger hit.

yup

There is still confidence in the Union ??!!
Ooops ...

I remember reading a paper in the late mid 90's procalaimng that the Euro would inevitably collapse into chaos. Seems very prescient now.

Greece is the country with the biggest risk of defaulting but there are plenty of other countries also at default risk. If Greece defaults then how long until other countries start to default in a cascade? It might result in a scenario similar to a bitcoin dump where the first dumper triggers a cascade of dumps and crashes the market.