it works a bit like this:
if you're short the euro you'll lose if Greece defaults and leaves the euro. The euro will rise
if your short the euro be long on Greek stocks or indices If Greece does a deal you're in clover.
There is little/no chance, IMHO, that Greece will default therefore the contrarian trade above makes pure gravy; you've just got to be patient.
As these are my views (and current trade position) do your own analysis please.
