The Crisis in the Eurozone continues with the markets rallying and then selling off to the twists and turns of ''political'' newsflow.
Its too early to know what the final writedowns will be or who will be the ultimate counterparty that must bear the losses of an era of ''imprudent'' lending.
Its going to take a whole lot of political will and large writedowns + bailouts in the financial srctor before we are back to any kind of 'normal' again.
In the meantime rallies in the markets should be rented, not owned!
ps: I will get back to regular posting soon.