Greece set to default

Global financial markets have hit a rough spot around the globe this morning as Greece appears as though it will default on tomorrow’s debt payment that is due.  Money is flowing freely out of the PIGS (Portugal, Italy, Greece, Spain) and into Germany and Switzerland predominantly.  Domestically, Greece has basically shut it’s banks and limited ATM withdrawals to prevent large scale emptying of Greek banks.  The Euro currency, and global currencies for that matter, are not much changed over pre-weekend levels as the lead up to this event has basically been built in over the last few months.  Unfortunately, this event will probably not be the culmination but perhaps just the beginning of a longer period of turmoil as this may just be the first domino to fall,

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