The Greek Debt Fallout

By Rocky Vega

02/26/10 Stockholm, Sweden – Greece, already laden with so much debt it can’t afford, has delayed its latest bond sale roadshow for US and Asian investors with no rescheduled date offered. Their sovereign debt problem has yet to improve.

A long hopeless-feeling struggle could remind you of Homer’s Trojan War. The Greeks spent ten long years failing to siege Troy before they decided to get creative. They erected a horse statue, pretended it was a gift, and used it to sneak enough soldiers inside to open the gates and ultimately destroy the city.

Curiously, the euro became an accounting currency about ten years ago… perhaps it’s a theme destined to repeat.

Rocky Vega

Rocky Vega is a regular contributor to The Daily Reckoning. Previously, he was founding publisher of UrbanTurf and RFID Update, which he operated from Brazil, Chile, and Puerto Rico, and associate publisher of FierceFinance. He specialized in direct marketing at MBI, facilitated MIT Sloan School of Management programs, and has been featured on CBS. Vega graduated with honors from Harvard University, where he was on the board of Let’s Go Publications and directed business programs involving McKinsey, Goldman Sachs, and Harvard Business School faculty. He is also enrolled at the Stockholm School of Economics.

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