EUR

Got this from a friend which I want to share, sounds interesting:

"Last week Prof. Steve Hall of the London School of Economics has received a honorary doctorate at the University of Pretoria. We could talk with him. He acts as adviser for the Bank of Greece. Hmm...

Do they have big trouble - Yes! (And a lot of it started with the Olympics).
Will they default - No!
Will the EZ fall apart and the EURO - No!
Will there be contagion - not likely to a significant extent because countries like Portugal to a lesser extent, but Spain and Italy are just large and dynamic enough not to worry too much about that.

Then he said something interesting. They believe the solution is a swap of Greece (euro) bonds for German (euro) bonds. (No detail, but just the point, there is another rather simple solution not yet on the table.)

We will see how that eventually pans out."

catnip
the asian reaction is a bit reluctant nothing much, euro has been the single currency to go down for a long time but right now its a suicide to trade euro anyways i am not trading euro untill it reestablishes its downtrend or changes the trend. Greece out of the picture but with GS in the court it might give us some impulsive drawdowns in stocks but nothing much i believe. we already have the downtrend for more than 4 months.

@Asad: I could argue about Black Swan events on several grounds but won't waste time and space here and now. Let's perhaps just compare notes on it in a few weeks or months :-)

THERE are rumours of higher greece debts (ntv.de)

Yes FX trading could be suicide that must be handled with an option strategy.