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magical thyme

(14,881 posts)
2. true. they do, however, desperately need to prevent the contagion from spreading.
Sun Jul 5, 2015, 04:09 PM
Jul 2015

Not only to prevent the rest of the PIIGS nations from collapsing, but also because of European bank exposure to the default.

In the meantime, Tsirpras and co. hasven't only been meeting with the Troika. They signed a deal within the last few weeks with Russia. And China, which had hinted it would help them within the framework of the EU, has more recently hinted it would help them directly as well. Plus they have port deals with China in the works. China is, of course, cash- and gold-rich and has assisted other "poor credit risk" countries in the past.

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