EUR

Yahoo, Grece economy is just 2% vs US economy we wont have a collapse, this was a very much needed pull back in technical terms. Fundamentally it is not sustainable and market will pop next week is a going long week. specially the yen crosses.

no deleverage the credit bubble is just going bust ... expect a bank holiday

deleveraging !

eurjpy gbpjpy crazy very

Ashraf
its also on bloomberg today

"Finance Minister George Papaconstantinou told the legislature, where the ruling socialist Pasok party holds a 10- seat majority, that wage and pension cuts that have prompted protests are necessary to secure the package and avoid default.

In less than two weeks, a 9 billion-euro bond comes due and the state coffers dont have this money, he said. As we speak today the country cant borrow it from foreign markets and the only way to avoid bankruptcy and a halt on payments is to get this money from our European partners and the IMF.