27 Jun '11, 7am

IM$avvy Headlines: Greek debt, US economic woes to set direction #investment #finance

GREECE and the United States may be geographically thousands of kilometres apart but they share one vital common feature - an over-reliance on borrowing to grease (pun intended) the wheels of their economies. In the case of the US, large handouts were given to the big banks under the euphemism 'quantitative easing' while Greece reportedly lived beyond its means and is now awaiting cash injections to keep it afloat. In both instances, news of the size of their problems unnerved financial markets because a default in either case would have had disastrous consequences. In an investment update last week, Schroders said it is clear to all that Greece will eventually default on its debt. 'It is only the timing and method that remains uncertain. An orderly restructuring is in everyone's best interest and is our central scenario,' said Schroders. 'The worst-case scenario of a diso...

Full article: http://www.cpf.gov.sg/imsavvy/infohub_article.asp?readid=...

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