Has the Greek Tragedy Started?
Many Eurozone leaders have hoped that they can rescue Greece's imminent bankruptcy through more debt, fiscal austerity, privatization and reform and postpone the inevitable until 2013, when the European Stability Mechanism (ESM) should provide an orderly plotted state insolvency. UBS AG, which operates in more than 40 countries and considered as the earth's second largest manager of private wealth assets, with over CHF 2.2 trillion in invested assets, thinks otherwise. The corporation believes a default will be triggered before the end of the year.
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Tags: assets, Earth, Esm, European Stability, Fiscal Austerity, Greece, Greek Tragedy, Imminent Bankruptcy, Insolvency, inspiration, Private Wealth, Privatization, Trillion, UBS, Ubs Ag