What a Greek default could mean

Adrian Holliday
Greek Prime Minister George Papandreou
Greek Prime Minister George Papandreou

Many governments don't like democracy. To actually hand the decision to the Greek people about whether they should accept the EU bailout package, as Greek PM George Papandreou has announced, is a bombshell. The EU was so flabbergasted about Papandreou's decision it couldn't even react to the news. So the Greeks now have a stark choice: accept - or eject. Let's look deeper at what could happen.