A bit of helpful advice for the Greek Government:

[oolon]

Personally I think Greece is going default (technical or real), and the question in my mind was how is it best handled so Greece does not become the first of many Dominos (I felt it was best handled within the Euro). The problem really is the market sees blood in the water and it is not going to let this crack be papered over, an ever increasing wave to money will be pushing it towards that direction (as happened with the UK and the Europian exchange rate mechanism). I think my problem with Rage's initial comment was that if felt "uncontrolled" in nature (however that could have just be me reading to much into a few words), and that it tarred Ireland to the same degree as Greece, I believe Ireland could make it through this (they already have the attitude change), I don't see that with Greece they want a quick fix and to keep on going as they were. The real elephant in the room is Spain. One of the problems is if we give Greece too go a real the rest of the PIIGS will be there at the trough wanting their helping.

[pp05]

Personally I think Greece is going default (technical or real), and the question in my mind was how is it best handled so Greece does not become the first of many Dominos (I felt it was best handled within the Euro). The problem really is the market sees blood in the water and it is not going to let this crack be papered over, an ever increasing wave to money will be pushing it towards that direction (as happened with the UK and the Europian exchange rate mechanism). I think my problem with Rage's initial comment was that if felt "uncontrolled" in nature (however that could have just be me reading to much into a few words), and that it tarred Ireland to the same degree as Greece, I believe Ireland could make it through this (they already have the attitude change), I don't see that with Greece they want a quick fix and to keep on going as they were. The real elephant in the room is Spain. One of the problems is if we give Greece too go a real the rest of the PIIGS will be there at the trough wanting their helping.

Don't forget Italy either. 120% of GDP.