Okay, so “Clash of the Titans” stunk, but that’s the least of the Greeks’ problems. The Greeks are in a very tight spot, between a rock and a hard place, between Scylla and Charybdis, even as everybody keeps making statements that sound an awful lot like whistling past the graveyard.
It’s amazing that Greece was this big problem in the morning, with the nation’s 10-year bond yields surging to a record 7.58%, but was forgotten in the afternoon, after ECB’s Trichet said default was not “an issue.” It was a classic nondenial denial kind of comment, because he didn’t say, it’s not an issue because we the nations of Europe will save Greece, and he didn’t say, it’s not an issue because the Greeks can clearly fund themselves through the open market. Frankly, we’re not exactly sure what his point was, but it was enough to mollify the masses, again, for a time.
