Germany came out today saying they are not going to back stop Greece, and now they want to build a “firewall” around it so it doesn’t hurt its neighbouring countries, according to the FT.
While the Germans are talking about containing the problem, The UK and Sweden want to call in the big guns.
“The IMF has the technical knowledge,” said a Swedish official to the FT. Their UK equivalent agreed, “The fund has the expertise and the resources.”
Even the rest of the Euro zone hasn’t come to a single conclusion.
All this leaves is Asian markets with no idea what is happening in Europe overnight.
Check out RBS’ scenarios for a Greek bailout >
Picture from NASA.gov