A Sector Immune to Greece
“By declaring Greece in arrears, the IMF avoided using the term ‘default,’” says this morning’s New York Times.If you read yesterday’s 5 Minute Forecast, you already knew that’s what would happen. The Greek government missed a $1.7 billion payment to the International Monetary Fund. But don’t call it a default.The U.S. finance industry played this game a few years ago. […]