Stocks rally strongly. They're up about 5% or more worldwide. Reason ? Greece and the Eurozone have been saved !
But how ?
Private creditors "voluntarily" give up 50% of their claims, thereby reducing Greece's debt by 100 billion Dollars. The IMF and other European countries advance Greece fresh money.
What is the HOPED for result ? That Greece will have "only" 120% debt to GDP in 2020 !
We've been there 2 years ago, and at the time, Greece was broke ! Now we shall hope that 9 years from now we'll be back to where Greece is just broke ?
Why is gold going up ? Sanity has left the building....
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