Greece New Democracy party won. They will have a pro-bailout government for the foreseeable future.
I'm pretty convinced they will stay in the Euro until they are kicked out. Why leave when you can mouch off the other countries (Germany) to pay your bills with loans you'll never pay back?
Greece is really already dead. It's just a mess of postmortem twitches.
The real action is in Spain and Italy right now. Spanish 10y just popped above 7% which is DEFCON 1 for the printing press clown brigade. Now that all the central banks are jawboning the market together saying they'll print if need be, it's just a matter of time before we have another big print.
And on and on we will go, trying to solve a solvency problem with endless fiat digital toilet paper. It will work until it doesn't. And on that day, that's when things will get interesting.
The French election was actually a lot more important than Greece. The socialist have a supermajority government. If they pass everything they say they will watch France's interest rates go up and they will implode taking Germany with them.
I'm pretty convinced they will stay in the Euro until they are kicked out. Why leave when you can mouch off the other countries (Germany) to pay your bills with loans you'll never pay back?
Greece is really already dead. It's just a mess of postmortem twitches.
The real action is in Spain and Italy right now. Spanish 10y just popped above 7% which is DEFCON 1 for the printing press clown brigade. Now that all the central banks are jawboning the market together saying they'll print if need be, it's just a matter of time before we have another big print.
And on and on we will go, trying to solve a solvency problem with endless fiat digital toilet paper. It will work until it doesn't. And on that day, that's when things will get interesting.
The French election was actually a lot more important than Greece. The socialist have a supermajority government. If they pass everything they say they will watch France's interest rates go up and they will implode taking Germany with them.