Freezing cold here in London, but things are humming as normal.
The interest rate on the 10 year Greek bonds moved up from around 10 percent in March 2011 to about 34 percent currently, I notice from Bloomberg.
The ECB will make a profit if the bonds are paid up at maturity, also noted on Bloomberg.
The haircuts are not sufficiently long, it seems. At this rate, this drama will continue, but it will curtail the path back to growth and normality for Greece, and that is a tragedy. So many people sleeping on the streets after becoming homeless in this debt crisis is a shocking situation.
A clean solution of this problem will be best for Europe as a whole, so a simple plan may be best to jettison the unworkable solutions and stick to some core proposals which people can agree to. I pray to God for a fair solution to this Greek problem.
Please let me know your views.