xjo weekend zoomba lounge, page-117

Spain's economy is four times the size of the three little pig's economies put together, so scale will have to play a part in any upheaval. No austerity required is a bit of a misnomer, banks revised lending policies will have similar effect which will flow on.

Greece has to have austerity imposed due to their unrealistic social benefit expectations and inability to change that, Spain is not quite that far gone.

A bit like a catch 22 for Eurozone, don't bail Spain's banks (building bubble) and let that play on fear factor while Greece to's and fro's... would have magnified any Greek result to the downside... bail Spain's banks so Greek election result has less affect on Spain/regional stability and get the Greek reaction you mention.

Both scenarios factored in, the Greek Dip being unpalatable but likely to cause the shortest localised vomiting once consumed.

US attitude is that Greece GDP is less than 1 % of world GDP so should be viewed that way.

I think some in the market are expecting ( HOPING :) to see a spike low like March 2009, the more expected it is the less likely to happen.

ifandwhen