Greece default sets big precedents
The latest Greek bailout is done and it involves Greece going into "selective default", which is, yes, a kind of default. Both the official and private sectors are going to take losses on loans to the country under the new deal, which sets at least two hugely important precedents. Full Article
Felix Salmon
A slice of lime in the soda Greece defaults
Jul 21, 2011 18:39 EDT
link-
http://blogs.reuters.com/felix-salmon/2011/07/21/greece-defaults/