05-13-2015, 10:38 PM
The International Monetary Fund is working with national authorities in southeastern Europe on contingency plans for a Greek default, a senior fund official said—a rare public admission that regulators are preparing for the potential failure to agree on continued aid for Athens.
IMF Works With Bank Regulators on Contingency Plans for Greek Default - WSJ
“Their argument, which says ‘we can’t pay, what the heck are you telling us to do?’ gets to be more powerful by the day,” David Blanchflower, a former member of the Bank of England’s monetary policy committee, said in a television interview Wednesday. “It’s not even so much now a question of won’t pay -- they can’t pay.”
EU’s Failing Debt Plans May Spur IMF Support for Greece - Bloomberg Business
German Chancellor Angela Merkel is coming under growing pressure from within the ranks of her own party bloc to give up on Greece for the sake of the euro.
Merkel Pressed to Give Up Greece as Germans Urge Strong Euro - Bloomberg Business
As will other big U.S. companies. Non-financial American firms hold $1.73 trillion in cash, 4 percent more than they had a year ago, and $1.1 trillion of that belongs to the 50 biggest companies, according to a recent report from Moody's Investor Services. Apple, Microsoft, Google, Pfizer and Cisco have stockpiled $439 billion.
Apple Could Make Money by Bailing Out Greece - Bloomberg View