- Greece is being relieved of 105 bln of debt
- Today is historic for Greece, Greeks, economy
- Can’t save pension system without saving economy
- Moral issue of pension funds not in debt swap
- CDS activation not a concern for Greece
- Greece needs stronng political direction, sincerity
- Not afraid of opinion polls
- Swap results show change in market perceptions
- Debt will rise in 2012 and possibly 2013
Sometimes I find myself just smiling…..
EUR/USD sits at 1.3116 having been as low as 1.3212 (EBS)
Eastern European selling noted earlier and some macro fund buying in recent trade.
Slight variance in reports re sell stops. Hearing stops through both 1.3190 and 1.3180, take your pick.
