After enacting painful austerity measures and winning a deal for a European and International Monetary Fund financial backstop, Greece is back in a familiar position: Borrowing costs have skyrocketed and the stock market is sagging.
Drop your socks and grab your throttle. This could be a bumpy ride. If Greece goes pop all eyes will shift to Spain, Portugal, Ireland and Italy because they aren’t in much better shape. Normally a sovereign default isn’t such a big deal, but when so many countries sit on the precipice one domino could take many more down with them.