Greece Is Defaulting; Recession Is Imminent. Play Defense

By Penguin Capital Markets:

While many of us have been waiting for ages for Greece to default on its insurmountable debt, it looks like the wait might be over. It's now been realized that Greece isn't going to make its deficit targets that were agreed upon when the country took its loans from the IMF and European Central Bank. While the deficit was originally supposed to be only 7.8% of the nation's GDP, due to slowdowns and poor forecasts, the deficits will now be a whopping 8.5% of GDP. This is putting even more pressure on the already fragile nation, which is even closer to a default as the deficits continue to eat away at the nation's economy.



Greece has been living luxuriously for a long time, to say the least. I read an interesting article that provides some details as to just how unsustainable Greece has become. It includes a description of an

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