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.