Ping.
Ever since independence from the Ottomans, Greece has -- without exception -- been a financial basket case. Anyone with an optimistic view of Greek finance has been simply hammered for more than 100 years. ECB chimed in with "this time, it's different!", and they have, of course, been proven to be -- as usual -- full of shit in this view.
Would you believe that ECB allowed -- get this -- cumulative Athens airport landing fees for up to 15 years in the future as PART OF the Greek financial qualifications to meet EMU financial (haha) "standards"? If that doesn't explain the cooked books involved in admitting Greece into EMU to you (in one sentence, pls note), then I don't know what will.
If ECB have ANY sense (not a proposition on which I should wager), they'll "allow" Greece to exit EMU. In plain English, by the way, that means "boot them out by the ass". Since ECB do NOT have any damned sense, this will not occur and ECB will implement more confiscatory policies in order to keep this Patriot-deflated ...no, Patriot-collapsed... ball in the air.
I will bet anyone in the house that, should ECB start proposing yet more idiotic schemes to keep Greece in EMU, then among the first will be "bail-in", a la Cyprus, wherein Greece (followed by ECB) will begin confiscation of citizen private wealth. That's why Syriza were elected; the Greek citizen knows this, too.
Screw 'em. Simply sell Euro vs. Swiss on rallies (like we had today). Or Euro vs. USD as long as the dollar stays strongish against world ccy mkts.