What you see in Europe is how hardball, down-to-the wire negotiations. Don't be misled by the financial media, economic experts and silly websites.
Ultimately - countries and euro will be fine. Banks and bonds, will be hurt.
No, ECB can not print - it isn't 'the lender of last resort' as other central banks are. No, Germany does not have any intention of leaving the EU. No, there is no EFSF leverage of 2 trillion.
Ignore the speculation, but if you are trading currencies - Menta is correct - the retail traders are long on Euro while the institutional traders are shorting it (for now). It is up to you to place your chips.
