ISDA Says Greece In Default, CDS Will Trigger

In the most predictable event category: the ISDA finally declared Greece has defaulted.  The market's ho-hum response is also predictable.  But then again, markets yawned in 2008 initially.

http://www.forbes.com/sites/afontevecchia/2012/03/09/on-greece-defaults-and-the-future-of-derivatives/