Telegraph Live - Greece: Reports in its 3.31pm post that leaders of Italy, France, Germany and Spain are to hold a EU Summit on the day of the Greek General Election.
Lets Get Real:
This sounds like it will be a all nighters folks as the leaders wait the results from Athens, the projections should tell the EU what path they will be on for the next few months, either Greek voters vote for austerity Parties or Greece is OUT of the Euro. The Germans are not going to support Euro bonds not matter what President Hollande of France wants, as Euro bonds will mean that Germany will be on the hook to bailout the PIIGS till the end of time. The German voter would throw Chancellor Merkel out of office if she tried to get the German Parliament to support such bonds. Also its against the basic law of Germany, no German Government can underwrite the debt of other Countries. Thus expect the Markets to go up and down over the next few weeks folks, even this blog can not understand the present mind set of the market, on no good news, well no news on Euro Bonds and the Markets go up, it seems the Market is going on hope, politics and reality are not the same thing folks.
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