Why Greece is Important

It is because of a financial instrument call Credit Default Swaps. In the worldwide casino that the banking system has embraced the banks sell insurance against default on soveriegn debt, but I suspect that they have grossly miscalculated the odds of default, and therefore will lose destabilizing amounts of money if a formal default is aknowledged. This is probably why our Federal Reserve through multiple avenues has been bailing out the European banks.
My Blog:: kingworldnews.com/kingworldnews/KWN_DailyWeb/Entri….html

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