Saturday, February 18, 2012

Greek Default March 23rd, 2012

Rumours swirling on the internet regarding a potential Greek debt default, bank holiday and a return to Drachma scheduled for March 23rd 2012.


How likely will it happen on that day is difficult to say because the European and the US will do everything in their power to postphone the day of reckoning, because a greek default has the potential to bring down many large European and US banks.


Here is a link to an article in ETF daily.
http://etfdailynews.com/2012/02/16/greece-officially-defaults-march-23-banks-close-ewg-vgk-fxe-ewq-gld/