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De La Rue (DLAR.L) has drawn up contingency plans to print drachma banknotes should Greece exit the euro and approach the British money printer, an industry source told Reuters on Friday.
So yes, the move in debt spreads over the last 48 hours has increased the odds of something major to come. If recovery comes soon, I suspect things will be just fine.
If not? Then I believe equities could undergo a very serious break reminiscent of the May 6 Flash Crash.
Notice that this isn't a prediction, but a statement about how such a scenario could occur if indeed junk debt deteriorates further beyond the last 48 hours, and under the assumption that the magnitude of a decline could lead equities lower.
Originally posted by DAVID64
My wife is changing jobs and I told her to pull everything out of her retirement account. We're just going to sit on it awhile till we see where things are going. Thinking about buying land farther out in the country.
Originally posted by St Udio
other sources say that the Spanish banks being downgraded are a real cause for this activity