Not an expert but some thoughts - The PIGS are at the top of the world debt owers. USA is #10. Fear that Greece leaving could be detrimental to EU and banking systems overall. Yesterday on Sqwak Box one of the guys said the Greece's economy was 1/4 the size of Massachusett's economy so why is the EU so concerned over such a small country? Concept of securitizing a nation is fraught with how do you deal with default - Greece's riple affect hit the bond holders hard ie Scotia Bank in Canada. Same issue as in Puerto Rico. So if EU has a bank crisis due to Greece default than it could ripple into the rest of the PIGS and impact the EU severley and possibly the rest of the banking system. The world is deep in debt with no long term plan to reduce the debt. Reality sucks especially if you are in Greece and possibly sideswipped in the EU.
As far as POET is concerned IF there is a major upset or a bank gets taken out due to default than that could make financing by potential POET partners more expensive and difficult.
