Wednesday, March 7, 2012
Feeling a bit stressed? Sweaty palms? Tense, nervous headache?
The big Greek poker bluff is in full force. Will the Greeks CAC themselves and give the Eurozone a dose of VD [Editor: You mean SD)? Or will the patsy banks who are enjoying the ECB fairground of free rides and a nice tier 1 capital deposit at Europe's favourite bank, the ECB, find themselves being paid back in full because some aggressive hedge funds want to be CAC'd?
I will say it again. Greece will do a Lehman. Italy and Spain will be overjoyed because if Greece doesn't get its bail out, they can be the next in line. Greece will enjoy a proper FX rate and a few bankers will not be getting bonuses this year. It is a win win and one we have been predicting for months now.
Good to see the Netherlands preparing to leave the Euro too.
No euro means more currencies means more jobs means growth.
Keeping the Euro keeps Germany alive and a few technocrats pension funds bolstered with Euro tax payers hard earned cash.
Mitt Moron ready to do battle with the useless Obama (reuters)
30 Banks say yes (reuters)
CAN leads the pack (marketwatch)
My Greek bonds appear to be glowing in the dark.