I’m reassured. Angela and Nicolas have launched the full press PR campaign for Greece. Announcing that on a VOLUNTARY basis the privare sector will participate in the Greek debt solution. I think we can read something into the word ‘voluntary’ here… Here’s an article in French if anyone’s interested.
The CAC40 is up well over 1% after having fallen this morning 1.3%.
The Euro is now 1.4278 up 0.43% and I’m guessing this will hold and rise over the weekend as politicians continue lean on their PR teams. Unfortunately, it doesn’t change the fact that as the summer rolls on it’s going to get harder and harder to kick this can down the road. On the other hand we’ll have to see how nutty the Tea Party Republican’s get. No compromise on raising the debt ceiling and the threat of US default would surely trump the problems with Greece (even adding Spain and Ireland…). I’ll be playing the Euro.USD as per Angela and Nicolas and the Tea Party suggest.