The dramatic announcement by 5 major central banks about providing dollar liquidity for European banks could precede a bigger announcement about an official Greek default. The liquidity move, similar to the one made after Lehman, could help make the default more orderly, and prevent a Lehman like turmoil. Here are 3 reasons why this move could be a preparation for a Greek default: The dollar liquidity operation will last until the end of the year and will enable dollar funding for European banks, which were struggling. It provided a big relief for the euro and has shown that the Federal Reserve, the ECB and also ... (full story)