Policy makers are impotent in their feeble attempts to stem the flow of social mood (which is turning negative). This is a social & political crisis (from mass protests on the streets of Athens to taxpaying voters growing descent in Germany to anxious bond market participants world-wide).
Now we hear that the IMF itself will need a bailout (more funds from member nations to fight the European debt crisis). History has shown that you can't fix a debt crisis with more debt. In fact the bigger the bailout, the bigger the resultant crash (and this has the makings of a massive bailout attempt).
A dead cat bounce based on hope and a short covering squeeze is nothing to hang your hat on (let alone risk your money).
