Sunday, February 26, 2012

Can Europe stomach Greek default? Depends on flavor

A man walks in front of a cafe at Plaka tourist district in AthensLONDON (Reuters) - The euro zone is inching closer to breaking its long-held taboo against a Greek default, but can still escape financial market mayhem and a body blow to the euro. It all comes down to whether the default is controlled or chaotic. Officials have been talking to private bondholders for nearly seven months to get them to share the burden of a second international bailout of Greece with taxpayers, who have so far shouldered all the cost. ...


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