When creditors are forced to accept big losses, as they did this week for Greece, that’s called a DEFAULT (bankruptcy) . When an economy contracts by close to 7%, as it’s doing now in Greece, that’s called a DEPRESSION. And when at least four other countries are in line for the same fate, that’s called a DISASTER! Not exactly cause for celebration, is it?

All what is happening so far is extending the pain for the country to default later, with the expense of other countries tax payers hard earn money.

Good trading and trade safe !

Erik