RE: Greek debt pact is far from a done deal That´s not new, at least not for the informed investor who is interested in the global situation.
Of course, the Greek authorities have to implement the agreed actions and the lenders have to accept their cut of money lended to Greece by roughly 70% (in total).
And I tell you what, even if these two conditions have been met, the mess is not sorted out then. Because money will not last infinitely. Greece has to become "profitable" again, on a global scale. And IF that happens, it will take years.
So, there is plenty of time for the International Financial Press to come up with new "fear scenarios" for the coming weeks, months and probably years. Just to scare everybody, if and when "they" choose to (or not, if "the powers" don´t like it).
Bottom line: f'%&k this whole Greece hiho. If they are bankrupt, get out of the Euro. And let Spain and Portugal and Ireland follow, if neccessary.
Will the world fall apart ? NO ! These are such small economies, Europe will survive without them, long term.
Will there be a messy period ? YES !
But it will be even messier if a big economy will "catch fire", such as the USA.
Would it be good to be in cash then in such a scenario ? Short term, yes. Long term, other assest such as Precious Metals will recover the quickest and see the steepest gains after the initial downturn.
So, it´s just a matter of how you prepare yourself for such a scenario.
FANTOMAS