Athens exchange dives by 10%, biggest buy-in ever to US T-Bills, FTSE suffers biggest decline since 2012, oil slides again. Is this the end of the beginning?
You have to ring some alarm bells when dramatic market price movements occur in the context of large trading volumes. That’s what has been happening over the last 36 hours.
Yesterday, the Brussels goblins rather less than politely informed fantasist and human olive stone Antonis Samaras, the Prime Minister of Greece, that the chances of his country escaping from bailout/support mode were lower than the likelihood of Queen Elizabeth II winning the 2028 Grand National ridden by Prince Philip. Continue reading