Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Greek Default: Why Now May Be Best Time to Do It

Aris Messinis | AFP | Getty Images

As sovereign debt defaults go, there may be no better time than now for Greece.

Global investors are clearly in risk-on mode, with the US stock market off to its best start in 15 years and equities in many emerging markets faring even better.

Friday’s job report helped assuage at least one of the primary fears regarding the U.S. economy, even though the housing market remains a shambles—an improving shambles, but still a long ways from healthy.

Last week in general gave life to the recovery theme, with 15 of 23 indicators beating expectations and causing some economists to raise their growth outlook for the full year.

So, with sentiment running so garishly positive, why not go ahead and get that pesky Greek default and all of the accompanying futile denial out of the way already?