Sunday, May 09, 2010
Waiting for Monday
Several shoes have dropped in Europe. MERKEL has lost considerable support in the Gemran state election. (For me, this is a bigger problem - suggesting a very serious, if not extreme problem, maintaining European - at least Northern - popular support for helping other euro countries.) No word from the UK on the next prime minister. EU leaders and the IMF are moving forward to help Greece, but the real key is not Greece but perceived willingness to the same for any European country. That's what is really needed, and I doubt very much we will see this.....Tomorrow will tell if this rather impressive announcement is perceived well by the world's markets. The commitment seems surprisingly large.