The more one reads recent reports on the Greek debt problems, the greater the frown.
-Greek 'Soft Restructuring' to Precede 'Hard' One (CNBC link)
-Is a Liquidity Crisis Brewing in Europe? (CNBC link)
-Jump in Greek yields spurs restructure talk (FT.com link)
EU leaders and ECB have been trying their best to calm markets and assure that the Portugal bailout will be the last of this crisis. The EFSF was meant to tide these troubled economies through 2013, till the ESM takes over with a more permanent framework of resolving financial distress to EU members. But it is doubtful that Greece can last till that stage.
One year has passed since the strikes and protests broke out on streets in Greece. There is talk of a general workers' strike planned on 11th May 2011. Perhaps the first signs of more?
Has the markets fully priced in ......
