Them crazies at Zero Hedge are at it again. The head of UniCredit global securities Attila Szalay-Berzeviczy had this to say:
"the euro is “practically dead” and Europe faces a financial earthquake from a Greek default"... “The euro is beyond rescue”... “The only remaining question is how many days the hopeless rearguard action of European governments and the European Central Bank can keep up Greece’s spirits.”...."A Greek default will trigger an immediate “magnitude 10” earthquake across Europe."..."Holders of Greek government bonds will have to write off their entire investment, the southern European nation will stop paying salaries and pensions and automated teller machines in the country will empty “within minutes.”The Zero Hedge guys have it pegged: Welcome to the Apocalypse...
The Zero guys have more at the link. Batten the hatches boys because we are in for a hell of a storm.
Cross Posted at Classical Values