DMcW’s new article puts NAMA into a stark new context the Greek context.
David concludes if Greece defaults it will herald for the Irish government and the NAMA plan going forward a sovereign debt car crash.
Roubini the economics sage reckons that Greece is next to been insolvent and will require its debt restructured.
Greece he states will see a disorderly collapse and it will mean huge losses for financial investors holding Greek debt which will in turn trigger knock on effect into Ireland.
So, international money lenders looking lame on buying more greek debt means greeks can only but turn to ECB.
Will the ECB bail the greeks out in totality to the multitude of billions tens of or leave Greece with no option but to drop out of the Euro as David points out in Article today in the Independent.
If Greece do leave the eurozone but remain in the EU will this pave the way for other countries to go down same path.