As far as I am concerned, we have just sat down after swigging an interval G&T.
The fat lady has yet to sing but the way the Eurocrats are bleating, Greece has been saved.
Banks owned most of its debt and were coerced into saying yes whilst the minnow creditors have been CAC'd. Very undignified. The EU may have thrown a few more Euros at Greece to thank the Greek-o-crats for losing their next election (jobs at the top table, then) but the will of the markets will win. They always do. Just look at the distressed junk yields (15%+) on the new shiny tainted Greek debt.
Greece is bankrupt. It has defaulted. It will need another bail out in next 6 months. And it will leave the Euro.
Silicon Valley rents boom as earthquake rears (bloomberg)
Greece is saved (yawn) (reuters)
Goldman Sachs working on a new EU M&A prospect (Greece, Portugal and Spain)