tag:blogger.com,1999:blog-991324269440587462024-02-07T14:15:38.599+08:00Malaysia Gold InvestmentGold | Online Gold Trading | Gold Investment | Malaysia Gold Investment | Daily Metal Commentary | Daily Gold Report | Commodities Research | Gold Market Watch | Gold Coin | US Gold | Daily Gold Price | US Gold Investment | Gold ira | Gold Online TradingUnknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-99132426944058746.post-82078894135581558972011-06-20T08:07:00.002+08:002011-06-20T08:14:30.296+08:00Greece will soon default on its sovereign debt<a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://1.bp.blogspot.com/-VdZkOceyz3s/Tf6QqOY0rfI/AAAAAAAAESQ/DHB5adkSYYs/s1600/93455_Bailout-for-Greece-by-Paresh-Nath-The-Khaleej-Times-UAE-515x386.jpg"><img style="float: left; margin: 0pt 10px 10px 0pt; cursor: pointer; width: 400px; height: 300px;" src="http://1.bp.blogspot.com/-VdZkOceyz3s/Tf6QqOY0rfI/AAAAAAAAESQ/DHB5adkSYYs/s400/93455_Bailout-for-Greece-by-Paresh-Nath-The-Khaleej-Times-UAE-515x386.jpg" alt="" id="BLOGGER_PHOTO_ID_5620088440096075250" border="0" /></a>One can now add Alan Greenspan to the growing list of individuals who believe Greece will soon default on its sovereign debt. <p>In an interview with Charlie Rose this week, the former Federal Reserve Chairman said that a Greek default is now “almost certain,” and that the chances of Greece defaulting are “so high that you almost have to say there’s no way out.”</p> <p>“The problem you have is that it’s extremely unlikely the political system will work” in a manner that effectively resolves the crisis, according to Greenspan.</p> <p>With regard to the implications of the Greek crisis for the U.S., Greenspan stated that it has the potential to push America into a double-dip recession. However, he also contended that the U.S. economy is performing reasonably well on its own and is unlikely to re-enter a recession if euro zone officials are able to limit the impact of the problems in Greece.</p>Unknownnoreply@blogger.com0