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The fact that the markets are only slightly down this morning tells you everything you need to know. They either: 1. Underestimate the likelihood and effect of a Grexit. 2. Don't have a clue. 3. Don't care. I suspect its a combination of 2&3. Greece is a basket case and an irrelevance. Its...

And me!

I don't think so. Its easy for Tsipras to go to the country and say "I tried as part of the last minute negotiations but Europe said no". I think the current market rally is bullsh*t.

Scary stuff. Michael Lewis' book Boomerang makes some really interesting points. Unlike the other PIIGS, the Greeks never accepted responsibility for their mess, unlike say the Irish. It is part of the cultural make up to get away with what they can - even now many Greeks think everyone else to...