Greek Credit Event Triggers 3.2 Billion In Payouts

SEE VIDEO HERE CDSs (Credit Default Swaps) triggered in Greece. The question is whether these will trigger other events.  Watch Europe since this event could stimulate other shaky states to demand similar debt relief and trigger multiple rounds of debt default which of course will accentuate the weakness of bonds and could trigger further restructuring.  How long it takes and what the form a financial crisis will finally take when a tipping point is reached is hard even for experts to predict.  You can't keep a knife balanced on its tip forever.