Rather a good short summary of the potential dominoes going down I thought.
http://www.businessinsider.com/this-is-what-will-happen-if-greece-defaults-2011-6#
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Interesting article, thanks for posting. Have to say a Greece default looks fairly inevitable in my view, whatever it is actually called when it occurs. There seems to be little the Eu can do about it - solving a massive debt problem by taking on more debt is just plainly ludicrous and doomed to failure.
As to the striking Greeks, I've little sympathy considering such a large proportion of the population don't pay tax at all (and not because they don;t earn enough). Much of their current problems is of their own making. No wonder the populace of Germany are reluctant to bail them out yet again - why should they.
The house of cards looks as if it is about to collapse in spectacular style - taking Ireland,Portugal, Spain and most likely France and the UK with it. No doubt there will be a temporary respite for the US dollar with the flight to safety.But in similar fashion the US will also inevitably collapse, under the weight of its excessive debts(once the US dollar is replaced as the reserve currency.)
All rather depressing it has to be said. But the will be alot of opportunities. The big question is how best to position oneself.
