That is what will be interesting to me. If the EU comes back to the bargaining table.
Sounds like they are darned if they do...and darned if the don’t.
If the EMU members let Greece leave well the Euro will fall which is what they and the ECB wants, but the equity markets will crack some which is what NO ONE wants. If they decide to save Greece then the Euro would stabilize which they may not want and the equity markets would go back to watching ECB policy which is what they DO want.
But the end result doesn't fix the problem at all. One allows the infection to spread to the rest of the Continent and, I don't care what any textbook pilot says, Italy and Spain will start to feel the pain in the form of the servicing of their own debt....the other keeps throwing Euros at an unsolvable problem.
Gold may not be so bad an investment again.