S&P: Greek default, euro break up not inevitable

S&P sovereign debt head Beers says that a Greek default or a euro zone break up is not inevitable, a view at odds with a growing chorus of high-profile analysts.

I’m on S&P’s side on this one. Too much political capital has been spent to change course now. In for a penny, in for a euro…

EUR/USD is consolidating just above 1.2000 as risk appetite eases after a morning feast.