As quid pro quo for an enhanced bail-out, the Germans are understood to be demanding a managed default by Greece but for the country to remain within the eurozone. Under the plan, private sector creditors would bear a loss of as much as 50pc – more than double the 21pc proposal currently on the table. A new bail-out programme would then be devised for Greece.” (Source: the Telegraph)
This is the reason my financial risk indicators are rising. Europe is planning for an orderly default of Greece and making sure it is not contagious.
Good luck! You know what I have been suggesting you should do for the past several months.
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George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
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