Check this out: yesterday European finance ministers were asking bondholders to ‘voluntarily’ permit some defaulting on Greek yields (link at bottom)…
For all the rioting over Greece austerity the aim of the government is to improve the debt situation so that Greece ‘only’ owes 145% of its annual output by 2016… that’s their goal! There is no plan to balance the budget or pay down debt, only to reduce the rate at which they are sinking… Say goodbye Greece!
