In a few days time, there might not be a euro zone for us to discuss. - Nouriel Roubini, Roubini Global Economics
It's like Lehman Brothers and Bear Stearns. It is not so much the fundamentals as it is the unwillingness of the market to fund you. - Phillip Lane, Professor of International Economics, Trinity University
I covered emerging market sovereign bonds for many years, but I've never seen anything like this: a country trading at levels where the bear case is terrifying, the bull case is very hard to articulate, and everybody is talking about a possible default even when the country has an investment-grade credit rating from two agencies and is only one notch below investment grade at the third. Maybe the only thing which really explains what's going on is that both yields and ratings are sticky. Which would imply that Greece has a long way to deteriorate from here. - financial blogger Felix Salmon
The situation is deteriorating rapidly, and it's not clear who's in a position to stop the Greeks from going into a default situation. That creates a spillover effect. - Dr. Edward Yardeni, Yardeni Research
The issue is rollover risk [referring to Spanish debt contagion]. Spain has to issue new debt plus roll over existing debt to the tune of 225 billion euros this year. Fourty-five percent of their debt is held by foreigners so they are dependent on the kindness of strangers. - Jonathan Tepper, Variant Perception
Spain's cash flows are extremely bad... Spain's living standards are reliant on not just the roll of old debt, but also on significant further external lending... - Ray Dalio, Bridgewater Associates (one of the world's largest hedge funds)
Everything you knew or thought you believed about the European economy - and the eurozone, which lies at its heart - was just ripped up by financial markets and thrown out of the proverbial window. ...This is not now about Greece... This is about the fundamental structure of the eurozone. - Simon Johnson, former IMF chief economist
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