Credit-fuelled US stock market now ripe for a major crash

[winnipegjets]

Euro banks already took a hit once. This greek bailout was made so that greece can service its people otherwise there will be no money as no new loans forthcoming. If they don't pay this one, there is no trust and confidence in greek gahmen and people wrt lending money to them.

Euro banks took a peanut hit. The bulk of the loans from the troika are used to service the debt with the banks. The banks are feeding off Greece's misery.

The Euro banks knew Greece was a basket case ...but decided to lend to them, knowing that their governments will look after the banks' interest. For 6 years, the banks have been right. This time, they may be wrong.

Greece has everything to gain by defaulting. Iceland defaulted 6 years ago, now it is a darling again. Greece didn't, it is still in misery.