1) "There's really no way Greece can make it other than default," said Adolfo Laurenti, deputy chief economist in Chicago told Reuters in an interview on Wednesday. "I think the bailout was the premise to go to a default of Greece."
2) "I think the big mistake by the IMF (International Monetary Fund) and Europe has been to try to fool the markets and tell them that this is really the ending. It's not," Mesirow said.
Since you don't take my word for it! LOL
EU is a tumbling. The Volcano in Iceland was a signal from mother earth Europe was about to explode.
It's all in whom you listen to, or believe. There are many economists who have contrary opinion. Two guys no one has ever heard of speaking negatively about the situation doesn't make their opinions correct. We will see.
Default? Like the Argentinians did a decade ago? And becomes shunned by foreign lenders for many, many years, just like Argentina? And, its economy flounders for many, many years, just like Argentina's?
I suspect cooler heads in the Greek government understands that being a deadbeat will not solve the country's problems. It'll seize upon this crisis = opportunity to ram through structural reforms and put an end to 150+ years of fiscal irresponsibility.