By John Galt
November 21, 2011 – 09:05 ET
If you’re looking for a crash, I think it is easy enough to find by simply going to Bloomberg’s home page for the Athens Stock Exchange to see what is spreading:
While that is impressive, as the sub 700 level has not been seen since the 1990′s, the five year chart is even more eye opening:
If the new Greek leadership does not reach some sort of agreement regarding the demand for blood oaths from the European Union, the withdrawal process from the union will accelerate as there is no solution to the Greek crisis beyond default and an 87% decline in equity prices might seem tame compared to what will happen next throughout Europe.