We are really plagued by people in government who are totally clueless on how markets trade. They have been arrogant in assuming they do not need Greece and if they force it to default, no big deal. They are starting to come to their senses, but for how long?
Zeit Online has reported a dramatic turn of events in Luxembourg as creditors are starting to realize if they push Greece out, we are looking at a contagion that will start to sweep the debt markets. Nevertheless, these clowns have failed to reform and are maintaining the same system without changes. All they are trying to do is lend money without definitive terms, and then they expect Greece to screw the people and bleed them dry so they can save the euro. This too will ultimately FAIL.
