Is this getting awfully threatening or what? The second bail out package then fails... This is a political carnage, imho.
"If we crossed through some spacetime vortex that brought us back in time just two short months ago, to July of this year, today's confirmation that the second Greek bailout has now failed, following the Finnish finance minister's comments that the country will defy Germany and will not give in to demands to abandon its deal for Greek collateral, which in turn has sent the Greek 2 year bond bidless, its yield up 227 bps to an all time record 46.38%, would have been enough to send the futures and the EURUSD plunging."
This was the reason of the flash crash in Germany...
http://www.zerohedge...inancial-system
The market may go up here, but this is not an usual "let's print and somehow we will find a solution" situation, I've never seen before in the recent history the countries demanding equity for their debt! The debt deal fails, but you have to understand, the initial bail out is also about to go puff because it has no chance of succeeding (to pay back) without further bail outs. Greece is out of the league, and Euro is a scam...
Edited by arbman, 29 August 2011 - 07:09 PM.
