Lehmann brothers Bond VS Greece Gov. Bond

Previous we have the Lehmann brothers bond which trigger the global financial crisis in the year 2008. Now about 4 years later we have the Greece Government bond. If the Greece government decide to default on its debt servicing. The country will therefore declare bankrupcy and will be force out of Euro. If this happen, it is going to trigger another wave of global financial crisis. Plenty of Investor, top banks and businessman holding Greece government bond will be like holding a piece of paper which is worth less than the normal A4 paper we can buy from the grocery. The default on Greece government bond will trigger a chain reaction. The Greece by itself is in a very financial instable state. There was evidence of run on the bank recently, people are really worry about there country exiting the eurozone. To make it simple, what is happening to Greece is like someone who had owe huge amount of Debt. But they are unable to service their debt, so what they need to do is to borrow more money from other (e.g. ECB) to service there debt temporary. If the ECB stop injecting capital into the country, Greece won't be able to service their debt. Article by Trading Room www.tradingforreal.blogspot.com