Plans for Greece to default, potentially leaving the euro, have been drafted in Germany as the European Union begins to face up to the fact that Greek debt is spiralling out of control - with or without a second bailout.


Germany drawing up plans for Greece to leave the euro - Telegraph

has the media been painting a rosy picture all week ?

"Rumours are already circulating in Wall Street that banks are preparing for a "credit event" - a technical term used by credit agencies to mean a default - in the days immediately following March 20, as Greece looks likely to be unable to meet its debts."










https://www.zerohedge.com/news/greek-1-year-629-biggest-one-day-jump-yield-ever

NEW YORK (Dow Jones)--Greece's debt rating could fall into default in the coming days if past comments by ratings firms are any indication after the country completed a debt exchange on bonds held by the European Central Bank.

All three major ratings firms in recent months have said that a bond exchange where Greece replaces current outstanding bonds with new bonds that include worse terms for the bond holders would constitute a default.

Could ECB Greek Bond Swap Trigger Ratings Default? - WSJ.com

ECB’s Greek Bond Exchange Spurs Likelihood of Credit-Default Swap Payout

ECB?s Greek Bond Exchange Spurs Likelihood of Credit-Default Swap Payout - Bloomberg

As Athens riots, global markets say 'so what?'

As Athens riots, global markets say 'so what?' - Telegraph