Sept. 14, 2011, 8:47 a.m. EDT
End game approaches for Greek crisis
By William L. Watts, MarketWatch
FRANKFURT (MarketWatch) — Financial markets indicate Greece’s chaotic sovereign-debt saga is moving inevitably toward default, economists said, leaving European leaders and policy makers scrambling to avert a potentially disastrous domino effect that could wreck the euro and send the global economy into a tailspin.
German Chancellor Angela Merkel, French President Nicolas Sarkozy and Greek Prime Minister George Papandreou are slated to hold a conference call late Wednesday afternoon as Greece finds itself under pressure to implement further austerity measures in an effort to meet its deficit targets.
But many economists fear policy makers have failed to grasp the imminent likelihood of a Greek default and the damage it could do.
Full story: http://www.marketwatch.com/story/end-game-approaches-for-greek-crisis-2011-09-14
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