May 21st is coming !Posted: May 20, 2011
I am not sure if tomorrow will be the end of the world – actually, I’d rather not, I have plans – but it is certainly going to be a thought weekend for the Eurozone. As Fitch downgraded Greek’s debt to “B+” (speculative investment) with a negative perspective the idea of a Greek default is growing stronger.
Markets clearly don’t trust Greece can ever get ver its difficulties and for good measure is making sure that there is no way Greece can ever find a way to repay its debt. Even if that means a catastrophic restructuration that will shake the global economy and trigger the implosion of the eurozone.
It might not be the end of the world, but the future of the euro is very uncertain.