Daniel Gross: Will Sunday's Greece Elections Prove to Be a "Lehman Brothers Moment? Maybe

Richard S. Fuld, Jr. (Photo credit: Wikipedia)

Daniel Gross has been characterized as a stock invest very cautious. His global perspective has allowed him to understand very clearly the political and economic processes that occur in various countries and regions in the world. Below I present an interesting analysis of the elections that were developed in Greece tomorrow.
As Sunday's Greek elections approach, there's a rising consensus and concern that the plebiscite could prove to be a Lehman Brothers moment for Europe. That is to say, if the hard-left bailout-denouncing Syriza party wins, it could set off a cataclysm in the markets, a chain reaction that would set neighbors and then the whole world on fire.
So is it September 2008 all over again?
In one sense, it's an apt analogy. In the summer of 2008, the powers that be thought that, after a series of frustrating and partial bailouts of the financial sector, letting a large, leveraged entity default on its debts would have limited impact. But the Bush administration, the Federal Reserve and Wall Street leaders failed to view the situation in three dimensions. ... Continue to read.

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• Investors fussing too much over Greek election (blogs.reuters.com)
• EU leaders hold emergency talks as Greece prepares for pivotal election (guardian.co.uk)
• Q&A | Greece elections on Sunday pose a crucial dilemma (kansascity.com)