Countdown to Financial Armageddon
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Countdown to Financial Armageddon
Tracking the final days of the debt bubble
Curated by Nick Laight
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Greek referendum is coin-flip on euro exit

Greek referendum is coin-flip on euro exit | Countdown to Financial Armageddon | Scoop.it

If Greeks reject the 50% controlled default on the debts they owe to the banking sector, then the arithmetic I revealed on Newsnight on the eve of the Euro summit comes into play - without a 50% haircut, and a further 130bn euro bailout, on top of 110bn, Greek debt spirals out of control and the country goes bust.

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Too little, too late? Greece handed €8bn aid package lifeline but euro concerns remain

Too little, too late? Greece handed €8bn aid package lifeline but euro concerns remain | Countdown to Financial Armageddon | Scoop.it

Greece was handed a lifeline on Friday night after international lenders finally released an €8bn (£6.95bn) aid package for the beleaguered country, kicking off a crucial weekend for the future of the eurozone.

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It's becoming a high stakes game! Europe's leaders threaten Greek default if banks won't take haircut and accept losses of £120bn

It's becoming a high stakes game! Europe's leaders threaten Greek default if banks won't take haircut and accept losses of £120bn | Countdown to Financial Armageddon | Scoop.it

Europe's leaders are threatening to trigger a formal default on Greek debt and risk a “credit event” if banks refuse to accept losses of up to €140bn (£120bn) on their holdings.

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