Greece and IOC

[Putncalls]

I think the low volume and Greece was the culprit today. Is Greece going to bring the market down? Can the EU just let Greece go back to the drachma?

[admin]

What's going on?

What's happening next

[strategyguy536]

Good posts-- links from admin.
IMHO the Germans may have lost patience with the Greeks, who seem inclined to promise much and change little. With the Greek government in disarray now, any new govt. in Greece seems unlikely to have a real "austerity plan." (The former was more talk.)
I am betting the EU lets Greece dangle for a long time, with no one buying Greek bonds to shore them up. Make them an example to keep Spain and Italy in line-- each much more important to the EU.
OTOH French banks own about $50B in Greek bonds and they will beseech the Germans and others to help Greece.
I am sitting here in Texas; what do I know? Just a little of the German character-- they like people who work hard, are efficient, and live by rules. The Greeks are retiring earlier than Germans, their lifestyles supported by German taxpayers, have low productivity when working, and are lying about what they will do to reform.
Ms. Merkel will be in deep scheiss if she coddles the Greeks, and maybe especially so to cater to the new Socialist French PM. (The French will be glad to hold the Germans' coats while they work.) Just MHO; worth what you paid for it/them.

[Petrovale]

Sheiße, a new fondue, invented in Germany. The ingredients are vegetable oil and a steaming hot freshly pooed turd. It is mixed up and served over an open flame, on bread or apples. For a rare treat, mix it with poonut butter and serve on ice cream.