Wednesday, February 29, 2012

Greece defaulted. Page C3

I have been convinced that it would be better for the worst offending counties in Europe to default than to allow Europe's banking system to melt down. And I recall someone saying that when it happened there would be a great effort to hide the news. It happened - both.

Tuesday Feb. 28 headline
S&P Declares Greece in Default
On page C3 of Wall Street Journal

It is shocking and sad but Greece asked for it and the other Euro-zone countries allowed them to.