That's true, the bottom can collapse, but what does that mean? A civil war? Leaving the euro? I don't believe nothing like that will happen, but it's surely possible.
I think it's leaving the Euro, but only if things get really really bad. It would allow them to have a more internal focus and as a last resort, simply print more money.
That's the problem with being a part of the euro, you can't simply print more money, it's not up to you anymore, but to the European union, you have a common currency, but you lost your independence.
It's gonna be a slow process, but Euro has to further integrate for this to work. And basically have individual countries operate more as provinces or states.
I still wouldn't trust them. What happens if you buy their bonds and they tank AGAIN. Would you expect the reputation of the Greek government to help sustain their bonds. I'd rather put money in a mattress. I would say the same about Spain, Italy, and Russia.
Thing is Allison, the Greek government is no longer ruling the country, they are just executing orders from the so called troika, those are the ones indeed running Greece these days.
Reading the posts in this thread alone can give you an idea as to how unstable things are. I feel like staying away from this whole situation is the best choice, for now at least.
European stocks have been completely tanking lately. NBG down to $2.39 today. Some Tip'd Off users have been buying the stock on the latest dip, including myself. Sentiment seems to be that's it is still a good long term investment.
NBG is one of the banks that did not pass the stress test, but already has restricting plans in place that should provide the necessary cash reserves. The stock was down almost 10% this morning, along with the major European banks that actually passed the test! NBG and San:
A number of banks didn't pass the stress tests and this shows indeed their financial health, keep away I'd say!
