Greece, not again?

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Investors are complacent about the risk of contagion spreading from Greece to global markets, according to a Barclays survey of 899 global investors. More than half the respondents believe that a Greek exit from the eurozone will be only a small negative for global markets because Greece is small and buffers are now in place to limit contagion.

Grexit complacency, charted | FT Alphaville

Those who actually believe in European monetary union need to understand on Monday that pushing the Greek government further than their current position will generate infinitesimally small financial gains for European citizens while risking a Greek exit threatens unquantifiably large potential costs.

Grexit complacency, charted | FT Alphaville

Investors should be concerned about the Greek debt crisis because the fallout could roil markets, the portfolio manager at Quantitative Management Associates said Wednesday. "I think you've got to care about it because if we don't get a deal and Greece stumbles out of the euro zone, we're going to see significant market repercussions," Edward Campbell told CNBC's "Squawk Box."

Why investors should care about Greece: Expert

History repeats itself, first as tragedy, then as farce, and finally as trolling. That, at least, appears to be the case in Greece, where its lenders want it to cut its pensions rather than hike its business taxes, because they're afraid those increases would, as the Financial Times's Peter Spiegel reports, "crimp economic growth." There is a certain irony to Europe starting to worry that austerity is hurting Greece's economy. For years, Europe's leaders have insisted Greece cut deficits in exchange for concessions. Greece's economy has already shrunk 25 percent, and it is having trouble honoring its obligations in part because it has had so much austerity.

Europe is destroying Greece’s economy for no reason at all - The Washington Post

What depresses us is how little attention has been paid to one major area of Greek government spending that seems ripe for the ax: defense spending.  Greece spends a whopping 2.2% of GDP on defense, more than any NATO member-state save the United States and France.  Bringing Greece into line with the NATO average would alone achieve ¾ of what the IMF is demanding through pension cuts.

Greece fact of the day