You can almost hear the pips pop (or the Bavarians’ hops pop) as Euroland says it will help out the Greeks.
Short covering has begun, but remember that Greece is a tiny economy; the problems in Spain are much bigger.
And the Germans may well want to encourage a bit of currency decline to help their own flagging export economy and undercapitalized banks.
Gorilla says: “A bushel and a peck and a Euro, what the heck!”
