It is not time for Greece to exit, yet

I wrote about Greece on this blog many times. From the beginning my view was that unless 80% of the Greek debt is forgiven financial markets will bring out the weakness in the Greek economy and the euro area design. Also, I said that until a solution imposed by EU policy makers would not resemble one that would have been imposed by the markets the Greek story will continue. The same is true for the others in the PIIGS group.

Greece has defaulted but still does not look good for the PIIGS

As markets expected the PSI results triggered a Credit Even and Greece has officially defaulted. The final number for the participants was of 83.7% for all Greek bonds. The split was 69% for Foreign Law bonds and 85.8% for Greek Law bonds. Here are more details about the credit event.

Your chance to deal with Greece

I am sure that if you read this blog you have come up with your own version of a solution for Greece. Here is a game that will lead you to some interesting results. I got to #10 very fast but “the full Argentina” seems to be the most popular solution.

Enjoy, and let me know what you got.