Greece increasingly likely to default.

[girl gone mad]

6. Default was always inevitable.

Keynes understood this nearly 100 years ago. Debts that can't be paid won't be paid.

Greece has been put in a horrible situation, with two years wasted so that German, French and American banks could milk as much out of the European taxpayer as possible. Two years spent throwing good money after bad.

There is never a good time for a default. You and others argued that Greece would not default. Now your argument seems to be that default next week is better than default a year ago? You are wrong again. Portugal, Ireland, Spain and Italy are all in worse fiscal condition today. Even Germany is starting to weaken. The worry was a default would cause contagion? Contagion is here now.