by Jon S. Strebler
Greece is on the verge of bankruptcy, reneging on its deal with the EU, no longer being able to use the euro – however you want to characterize things. Again. Just like most summers for the last five years. Both sides seem further apart than ever before, after failing to reach an agreement last Thursday, and on Friday the ECB offered up a temporary loan to carry Greece into this week. A vain attempt to delay the inevitable?
These latest shenanigans roiled both US and European markets, but they’ve seen it all before and so the impact was muted. Somehow or another, most investors must feel, the EU will muddle through this latest chapter of the sad Greek soap opera, as is evidenced in the action of the STOXX 600 index of European equities.
True enough, European stocks have taken a couple of bad spills in the last ... Log in or subscribe to continue reading.