From Wall Street to Brussels, the people with a stake in Greece's financial future are making plans for its exit from the euro zone. As it stands, the debt-plagued nation has a narrow 46-hour window starting Friday when global markets are mostly closed and it could conceivably pull off a departure from the single currency, Bloomberg reports. It would be an incredible effort, requiring Greek leaders to "calm civil unrest" while overseeing a potential sovereign default, but European politicians, bureaucrats and investors around the world are preparing for the uncoupling.
Investors. Money talks, and this afternoon, it's speaking loud and clear. Reuters reports that investors fearful of a Greek departure from the currency zone are stashing their money in safer investments. "U.S. treasury prices rose on Wednesday as concerns over repercussions from a possible Greek exit from the euro zone increased demand for safe haven U.S. debt.," writes Karen Brettell. The 10-year note yield hit its lowest in at least 60 years. Rick Klingman, a treasuries trader at BNP Paribas said investors are buying up treasury bonds because Eurozone officials have run out of options at their summit in Brussels. "There's no real solutions or real plans coming out of the summit so there's more flight to quality," he said.