How will the markets rally when the big European banks will absorb huge losses on all those Greek bonds that they are now holding? Are the banks too big to fail? Will more fiat Euros be printed to cover those losses? Better buy silver! SS
Disorderly default of any Euro-based nation would make 2008's retraction looks tiny.
If Euro-soverns started to break from the Euro to start thier own currency it would end up like Zimbabwe.
The First Zimbabwe Dollar (ZWD) is obsolete. In June 2006 it was replaced by the Second Zimbabwe Dollar (ZWN) at a rate of 1000 to 1. A third and fourth dollar were later introduced and then the currency was abandoned. Zimbabwe no longer has its own currency and Zimbabwe dollars of all types are worthless.