Current Value: 7.88
Greece 10 year government bond broke out the 7.40 resistance , it is going to shoot up to 9 soon. They have no other options beside grabbing their bowl and beg IMF to bail them out. I don't see any possibility of Greece defaulting on its debt.
This is what happens to a country whose government is gullible enough to consult with Goldman Sachs and expect a fox to guard the hen house. Greek government used derivatives to manipulate their debt to GDP for over a decade and now they are facing crisis. They should of think a head before counting on Goldman Sachs advises. It is fascinating to me that they did not learn their listen and continue their cosy relation with Goldman, note that Goldman Sachs is the principal financial adviser on debt issuance for Greece.
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