$26 trillion in global derivatives about to implode if Greece bankruptcy unfolds

Thursday, February 26, 2015
By Paul Martin

by: J. D. Heyes
NaturalNews.com
Thursday, February 26, 2015

The fate of the euro — and, effectively the European Union — could rest on what the political and financial powers within the union itself decide to do regarding the new Greek government’s push to restructure its debt and end the austerity measures imposed upon it as part of a 2012 bailout agreement.

As noted by Michael Snyder over at The Economic Collapse blog, Greek leaders have already met with EU officials to discuss what the next economic steps forward will be for their country. But prior to the meetings, new Greek Prime Minister Alexis Tsipras, head of the far-left Syriza party, had stated that he was not prepared to accept an extension of the current bailout agreement. In fact, Tsipras was elected on promises to end the austerity measures altogether, even though the Greek economy has not appreciably improved.

Meanwhile, Eurozone officials have countered that they expect Greece to honor the conditions of the bailout. So, Snyder noted, “basically we are watching a giant game of financial ‘chicken’ play out over in Europe, and a showdown is looming.”

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One Response to “$26 trillion in global derivatives about to implode if Greece bankruptcy unfolds”

  1. They are being bullied/threatened by central bank criminals and the very rich scum that are destroying our way of life and our planet. When will people get angry enough to resist them. The greedy and corrupt have already stolen the people’s money, but it is not enough. They want it all.

    #1173804

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