…to use the the EUR 60 bln Handelsblatt suggests the EU is rumored to be planning to deploy to keep Greece afloat instead setting up a robust euro-TARP facility to recapitalize the banks impacted by an inevitable Greek (and Irish) restructuring?
The present course seems like a a bassakwards way to go about solving the problem.
The market likes the idea of throwing more money down a rat hole, apparently, rallying to 1.4396 so far. We trade now at 1.4380.