The one riot that needs to be watched -- and taken very seriously -- is that which is going on in Athens right now. Greece is now very close to a default which could ripple disastrously through to several large French and German banks (which have bought Greek eurobonds) and thence to American banks which have largely sold insurance to them (credit default swaps). This week-end might see the beginning of the same sort of panic that occurred at the tail-end of 2007 and, if anything, could be far worse.

Keith




Keith Hudson, Saltford, England http://allisstatus.wordpress.com/2011/06/
   
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