Greece…blah blah blah…Greece…blah blah blah…

Et voila c’est fini! So after the media had a wunderbar time projecting fear upon us that a Greek default was imminent and that it would it lead to an economic collapse the likes of which we have never seen before…Well look Greece just defaulted, perhaps they used a different technical term, but its still a default and as far as I can see, life still goes on…

Greece pushed through the biggest sovereign restructuring in history after cajoling private investors to forgive more than 100 billion euros ($132 billion) of debt, opening the way for a second bailout.

Euro-region finance ministers agreed on a conference call that the swap meant Greece had met the terms to proceed with a 130 billion-euro rescue package designed to prevent a collapse of the Greek economy. Ministers freed up 35.5 billion euros in public sweeteners and interest now, with a decision on the balance to be made at a March 12 meeting in Brussels.

http://www.bloomberg.com/news/2012-03-09/greece-debt-swap-tops-95-level-to-trigger-forced-bondholder-participation.html

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