Greek Default

Via Bloomberg:

Global investors have little confidence in Europe’s efforts to contain its debt crisis or in European Central Bank President Jean-Claude Trichet, with 73 percent calling a default by Greece likely.

Only 23 percent say they expect the region’s almost $1 trillion rescue package to both keep the European monetary union together and prevent a debt default by a government, according to a quarterly poll of investors and analysts who are Bloomberg subscribers. More than 40 percent say Greece is likely to abandon the euro.

I don't think the sovereign debt panic will affect The United States economic recovery. It is possible, as the survey showed, the crisis will be "a significant step that leads to an eventual breakup of the euro zone."

Liz T. Liu
Summer Analyst
Analyze Capital LLC