….but the one currency not gaining from this is…Sterling.

As the Slog reported for most of last week, a combo of Greek Papas and EU Mamas has done nothing to calm nerves in either the currency or credit-rating sectors. I think the time may have come for somebody to give Geli Merkel a slap and ask, “Are you in this European Union for You or for Us?” My personal hope is that she says ‘us’, because I’m very keen to be one of us – already holding as a do a few Deutsche Bunde.

Hedge Funds are already betting on what they’re calling ‘The Mark Solution’. Watch for more of the same.