Markets were anxious in the weeks leading up to the Greek elections and the possibility of a Greek exit from the euro.
After discussing the situation with Randy McDuff, we also felt that the Greek economy was such a small piece of the world economy that we thought the Greek election would be a non-event.
Or to put it another way, in the immediate aftermath of a Greek default, the Greek government would have quite a lot of power to dictate restructuring and repayment terms to its creditors.
It received a boost when New Democracy proved victorious in a second Greek election, mitigating the risk of a disorderly Greek exit from the Euro.
On Wednesday, Greek conservative leader Antonis Samaras was sworn in as prime minister at the head of a pro-austerity government, reducing the chances for a Greek exit from the euro zone.
Here's the thing: if the Greek government were to miss a payment on a bond as it fell due, the immediate impact on the finances of the Greek government would be considerably less than the trauma that such a default would cause for the international banking system.
If the Spanish political elite - both main parties were implicated in the mismanagement of the cajas - thinks it can get away with things as normal, covering up the shocking collapse of a bank built on political patronage, then the Germans intend the Greek example to be a salutary lesson.
The Pentagon says a Greek ship called the Orient Queen has been contracted to begin evacuating other Americans, under the protection of a U.S. warship.
Should there be a dispute in the CDS market over a Greek reprofiling, it would be resolved by the International Swap Dealers Association (ISDA), a voluntary body which governs the market.
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While the merger will have to overcome several political obstacles, it is a sign that the Greek banking system begins to respond to the economic crisis, and a vote of confidence by foreign investors that can become the model for other Greek and European banks.
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As it turned out, it was another contest in Athens (in 1906, but without the status of a fully fledged Olympics) that reconfirmed the games as a Greek-inspired, but peripatetic, sports event.
What may turn out to be most important is that the Greek government moved nearer to a formal default on what it owes, as talks collapsed between the Greek premier, Lucas Papademos, and representatives of banks on a voluntary 50% reduction on what they are repaid.
Some go further still: the prospect of a Greek departure from the euro is now widely discussed.
The risk of a Greek exit from the Euro looms large, ahead of another Greek election on 17 June.
Even in the face of a Greek debt implosion the U.S. dollar is just gaining modest strength against the euro.
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In the second century BCE the ancient Jews were overrun by the Assyrians, a Greek proxy in the ancient Middle East.
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And what kind of warning sign is the panic over a Greek default in the American context as you approach the August 2nd deadline?
The landlord, a Greek named Constantine who had a dozen other properties in the area, was waiting for the market to improve before he redeveloped.
With the possibility of a Greek default on the table, market participants have become more accepting of the use of debt forgiveness to achieve stability.
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Seeking the backing of the Greek people in a referendum, he was immediately condemned in the capitals of Europe as a fool or a traitor.
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No one is sure what the impact of a Greek default would be on the banking system.
The Greek cabinet has agreed to a new round of planned austerity measures, but the Greek opposition party has not and the public continues to protest over the belt-tightening.
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Dropping out of the Euro-zone would be a drastic solution to the Greek tragedy, but it would be a clean solution.
The government is talking of reopening a Greek Orthodox seminary on the island of Halki off Istanbul, a long-running demand of the European Union.
The 25-year-old Brazilian has a three-year contract, the Greek champion said in a statement on Wednesday.
Some firms are finding ways round the stigma of being a Greek enterprise and the credit troubles that brings.
The session comes on the same week that the Greek government secured a second bailout after passing a package of austerity measures.
The possible effects of a Greek exit from the eurozone and the specific ramifications for leveraged borrowers across Europe are unclear, but they undoubtedly would be complex.
Citing sources in the German Finance Ministry, Der Spiegel reported that Finance Minister Wolfgang Schaulbe was attending the meeting with an internal report to stress the massively negative repercussions a Greek exit from the European Monetary Union could have.
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The official said a Greek plane was standing by to take the three U.S. soldiers from Belgrade to Athens.
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