March 4, 2012
Greek 'Credit Event' Drama
Not many people realize that there is still plenty of drama surrounding Greece after the country and the EuroZone agreed to terms of a bailout. On one hand, Greece is rushing to implement its austerity measures. On the other hand, the international community is struggling with defining whether or not a default or a 'credit event' has occurred.
Instead of explaining further, I've attached three videos. The first explains how a credit event is determined, the second gives an update on what was decided on Greece (prematurely), and the third is Rick Santelli's opinion of all this.
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