It took a few minutes not to pun put with Greecing the skids and other such nonsense. Apparently, the short coverers last Friday got it right as word spread across the street that Germany was coming to Greece’s rescue.
Of course, there is no confirmation that this is happening but since when does the market need confirmation? Predictably, the euro soared and that means the US dollar sank.
Meanwhile, back in the jungle, er, outback, check out this controversy. No hard proof or official word is offered so get out the grain of salt.
Australia close to defaulting on debts: Senator Joyce
Any individual country, save for China and the G7, would not take down the global economy. But When it moves from small countries like Greece to infect a small batch of others then we’ve got problems.
