Politics of the Greek (Bail)Out

The FT is reporting that there is agreement on the structure of a bailout for Greece. The Germans are insisting that the bailout be undertaken only if absolutely necessary. The French have agreed to IMF (read U.S.) involvement as long as the IMF is only extends one-third of the bailout loans. If they are ever given. I don't think the IMF was consulted.

There really is not much agreed on. What we can surmise is that the Germans wanted the IMF to do the bailing out. Since the French did not. So the Germans are posturing when they say they want a mechanism for kicking Greece out of the Euro. They really want a bailout, but they don't want to pay for it. Enter the IMF. The French want a bailout, but they don't want U.S. involvement. Why? The French want a cheaper Euro to improve the balance of trade.

But there's always a wrench in the agreement: "Any decision by the eurozone countries to lend money to Greece would have to be unanimous."

I'm still waiting for the Euro to bounce on the bailout news, or at least to stabilize.

I'm also getting tired of holding SKF, now that I have AGO as well. I'm also thinking about shorting ITB or KBH.