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To: GoodGord who wrote (73098)	7/13/2015 3:01:49 PM
From: Hawkmoon	1 Recommendation Recommended By Mevis Read Replies (2) \| Respond to of 222297

I think it's good to remember that Greece is not the real issue here, but whether it creates a precedence for Spain, Portugal, and Italy to demand similar concessions on threat of default. Greece is only the first domino to fall, and it's rather insignificant, financially speaking.. But those other countries, who owe FAR more (and also happen to NOW be on the hook for Greece's defaulted debt as well) are the REAL issue. Greece cannot possibly pay back it's existing debt, let alone any new "aid" that is lent to it. And this is also the growing problem with other EU countries. This is analogous to a credit card company agreeing to lend it's heavily indebted card holder even more money so that they can make the monthly payments.. thereby relieving the credit card company of having to write off that debt.. In the case of Greek debt, it acts as collateral for probably a Trillion in derivative and related liabilities in the EU. If the collateral blows up, so do those other positions. But, again, this is about demonstrating to Spain, Portugal, and Italy, what will happen to them if they choose to follow Greece's path.. Hawk