1. He's talking about default within the Euro, which doesn't seem to be in the cards any more. As he notes (in a linked article), their ability to stay would de

1. He's talking about default within the Euro, which doesn't seem to be in the cards any more. As he notes (in a linked article), their ability to stay would depend on the ECB continuing to support the Greek banks. In reality, the ECB froze their Emergency Liquidity Assistance program yesterday, and Greece has imposed capital controls to avoid further bank runs. 2. This article was written three years ago, when the rest of Europe was in worse shape. It's not clear how a Greek default would affect the rest of the continent right now. 3. I have nothing against a reasoned argument that default is Greece's best remaining option (like yours, thanks!). What I object to is the semantic stopsign "FUD" in response to a situation that is legitimately uncertain and scary.