The Euro Is Not a Long-term Crisis
The EU is basically putting in place a controlled default of Greece. The contagion will be limited. Unless some of the small countries that are soon to vote on the
European Financial
Stability Fund (EFSF) vote it down. But that would be extremely stupid as Germany and France are putting up most of the money. Plus large corporations globally are sitting on massive Cash Reserves.
The MACRO picture is overblown on the sell side. CUU is being shorted big time, wait till next week when LME kicks off and the Euro votes continue to roll in positive.
Its easy to piss your pants right now and sell everything at a loss. Hang tight, the world is not ending. And stop responding to useless comments like "i told you so".
EXAMPLE:
The Euro Is Not a Long-term Crisis
https://www.businessweek.com/management/the-euro-is-not-a-longterm-crisis-09302011.html
The consequences on global trade of Greece or other periphery countries leaving the euro zone will be relatively minor, compared to other factors, such as inflation, confidence, monetary policy, economic growth, and the balance of payments.
To avoid this scenario, the companies agreed it would be be necessary to ensure an orderly default or repayment by Greece in such a way that it can stay in the euro and allow its lenders to recapitalize themselves. If the ECB and other authorities supporting the financial system can achieve this, they will contain the euro crisis.