Following the recent swings on European stock markets, a couple of questions and comments arise:
– the market does not believe the 21% mandatory discounton Greek bonds will be enough
– what is a structured default, as some believe it is a solution for Europe woes ?
– what about the other countries (Italy, Spain, Belgium) if Greece defaults in an structured way ?
– the French banking sector is cheap if you consider Greece, and only Greece, will default