With Greek 2yr yields skyrocketing north of 10%, it would appear likely that the Hellenic Republic has passed the point of no return.
While the euro has weakened sharply over the last couple of days, if this is in fact "the big one", then there could be a heckuva lot more downside to the single currency, especially if/when the market focuses it's laser on the remaining PIGS. And if Voldemort and co. ever pull the bid in EUR/USD?
Whoosh! We'll party like it's 1999.
Macro Man is curious what the market is expecting...not in terms of financial pricing, but with respect to actual economic and policy outcomes. So if you have a view, please vote in the poll below, which will hopefully be correctly formatted with 5 choices.
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