AUTOREFRESH 
Greeks, EU, Banks playing whack-a-mole
By Jamie Coleman || February 3, 2012 at 18:31 GMT
|| 4 comments || Add comment
You know that arcade game whack-a-mole? A mole pops out of a hole, you whack him with a mallet and then it pops out another hole.
The present Greek negotiation with both the banks and the EU-IMF is similar. A funding hole opens up in one of the negotiations and they turn to the other negotiation to try and close. And round and round we go, with no winners so far. Frustrating, to say the least.
Jamie I just have a question regarding the NFP numbers, in that situation would it not be risk on for the euro? If so how come it tumbled, is that due to massive sellers above the1.3200 level?
Hi Jamie,
Indeed frustrated by the fact that regardless of good or bad news, USD always takes hit against Euro. OK, can find some reason everytime it happens, but hard to really understand the context as each event, even if considered as bearish before it happens, turns out to be become bullish when occurs. Reason???
Second question; Can ECB increase it’s balance sheet without any limits? As no specific European Central Bank stand behind ECB, but all of them (even the Greek and the Spanish), can ECB increase the balance sheet without reactions from the credit rating institutes?
I prefer to compare it to Whack-a-banker
http://www.youtube.com/watch?v=l_iYWCO42Oo
Nah! It`s called Pass the Parcel….works like this….Troika and all sit in a circle. A parcel is passed around and when the music stops, the guy holding it has to start unwrapping it. The guy holding the parcel when the final bit of wrapping comes off, has to make the final concession to enable a deal done……now we know why the ECB won`t play the game