donheff
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I just read a piece by Krugman about how scary the European debt crisis is becoming. We keep hearing about Greece ready to default with Portugal, Italy and others not far behind. But I haven't heard all that much about the anticipated impact on markets. Yesterday markets fell 2% on the Greek debt being downgraded to junk but that doesn't seem tooextreme. Any thoughts about the short and long term impact of a few defaults on markets? Do we have our heads in the sand or would the impact not be all that big?