By Alistair Osborne – It would take place late on a Friday night, after the markets closed, or possibly Saturday morning. It would also signal the start of what Saltiel* sees as the “containment” phase of the operation – before the lengthier “resolution” stage.
Much would then happen simultaneously. Greece would announce its decision, declare a two-day bank holiday – as Argentina did when it defaulted in 2002 – and convene an emergency session of Parliament. Assuming MPs rubber-stamped the exit (admittedly no foregone conclusion in Greece), new laws would be passed governing the details of an exit. more> http://is.gd/IJaS9e
- Greece should exit the euro, says Treasury Select Committee chairman Andrew Tyrie (telegraph.co.uk)
- Euro Leaders Need to Step Up Austerity, Finland’s PM Says, Kati Pohjanpalo, BloombergBusinessweek
- Euro Crisis EKG: Danger Signs Return to Europe, [VIDEO 1:51] Bloomberg
- Through the eye of the storm, Economist
- Spain May Reignite Euro Debt Crisis: Monti, Patrick Donahue, Businessweek
- Monti Signals Spanish Euro Risk as EU to Bolster Firewall, Patrick Donahue, Bloomberg