Any hopes that Germany may bend and allow Greece a little leeway in its bailout negotiations, buying at least a little goodwill with its people have just been dashed. Not only that, but readers may recall last week's Die Zeit article that a third Greek bailout may be in the workd. Well, forget it. From Reuters:
- GERMANY'S MERKEL SAYS CANNOT ACCEPT ANY LOOSENING OF AGREED REFORM PLEDGES IN GREECE AFTER ELECTION
- MERKEL SAYS DOES NOT SEE ANY REASON TO SPEAK ABOUT A NEW AID PACKAGE FOR GREECE ON TOP OF THE TWO ALREADY AGREED
- GERMANY'S MERKEL EXPECTS QUICK FORMATION OF NEW AND STABLE GOVERNMENT IN GREECE
Good luck with that, and good luck to everyone whose entire investing strategy is based on the assumption that Germany will blink when it comes to Greece.
EURUSD slides to the day's lows in the aftermath of reality once again offsetting speculation of unicorns and magic money growing trees.
[6]
To summarize:
Q: "Merkel: What is best in life?"
A: "To crush the Greeks, see them driven before you, and to hear the lamentation of their women"