Will Greek Default Kill Sovereign CDS Market?

Alea today posts the timeline for physical settlement of credit default swaps, once a credit event has been declared. He doesnâ??t say why heâ??s posting it, but the main thing to note is that itâ??s likely to take a couple of months between (a) the credit event being declared in Greece, and (b) the final settlement of all credit default swaps on Greece. . .