Don't mind him, he's a bitter hater who will spout off on the internet but never have the nerve to say anything in person. The typical DFWS online personality really.
Back on topic, just start reading bro. Admittingly, I don't have a full grasp on the situation but it's easy to find information and just start reading if you care enough to look for it. If you post on the subject, just be sure to have your facts in order because there is always someone here who wants to argue just to argue.
Lmfao, what are you babbling about? I answer the man's question and I'm a bitter hater spouting off on the internet? Jesus Christ...
Justinsn95, Greece is going to be forced to be responsible. Higher taxes, lower entitlements, etc. Whether it be by the IMF, or the European Central Bank, the situation is bad. Greece is the first developed nation in decades to have a problem like this. It happens all the time in 3rd world and less developed nations. That's why this is different. It's forcing the market to start examining sovereign (country) risk. The really bad thing is contagion (spreading) of the problem. Banks hold country bonds, when they start having trouble, banks quickly start getting closer to insolvency and then start engaging in forced, fire sale prices of assets, driving down price levels across a region.
Q3 and Q4 scenarios are quadrant 3 and quadrant 4 scenarios. Think of the economic state of things as an pair of axes with 4 quadrants. The x-axis is GDP growth (contraction) and the y-axis is inflation (deflation). Q3 and Q4 are both negative GDP scenarios with either inflation or deflation. Q3 and Q4 are both very bad spots.
The "PIIGS" acronym you keep hearing refers to Portugal, Ireland, Italy, Greece, Spain. All of these countries are in bad shape regarding their sovereign funding. Too much debt, trade deficits, fiscal deficits, low foreign reserves, etc.