Most of the Greek Debt was loaned prior to Sept 2008 so the Banks have the bogus Credit Default Swaps to "insure" against loss. That is the problem. If Greece decides to pull out and issue their own currency to pay off the debt and since there are no legal provisions for them to do that, the financial world goes back into a Lehman type chaos. So Greek politicians are being led by twisted arms to the table knowing that their power is based on a system which will be gone gone, if they don't find a way to play ball. SS
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