The Big Fat Greek Lie Is Now Obvious to Spain… So Who’s Next to Debt Default?

"The big fat Greek lie being spread throughout the financial community is that Greece has been saved. It’s a lie for the following reasons:

1) Greece did in fact default

2) Greece now has more debt than it did before the bailout (how does writing off €100 billion Euros in debt and taking on €130 billion Euros in more debt improve this situation?)

3) The Greek economy continues to implode (youth unemployment over 50%, one in ten Greek youth looking for jobs abroad, Greek GDP fell 7% in 4Q11)

4) This Second Bailout was indeed a “Credit event” which the markets have yet to discount (though German investors are already lining up litigation)

5) Germany’s finance minister has already admitted Greece may need a third bailout.

Anyone who thinks that Greece is better off, let alone “saved” is out of their minds. The Euro may have been saved for a few more weeks/ months. But Greece is in worse shape than ever..."

at http://www.marketoracle.co.uk/Article33626.html