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“Let us dedicate ourselves to what the Greeks wrote so many years ago: to tame the savageness of man, and make gentle the life of this world.” – Robert F. Kennedy
Today’s market action was a twofold operation to:
1) give the people ‘confidence’ that a Greek default would be a non-event for the financial markets
2) allow the financiers who were terribly off-footed by their mistaken belief that the Greeks would accept the Troika’s domination some time to square up their accounts in their mispricing of risk.
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