The Greek Debt Fallout
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.