Germany V Greece: “eureka moment” needed…..

All eyes will be on the meeting of the Euro area finance ministers today and whether some agreement can be reached on the path forward for Greece. Markets will continue to be sensitive to any news flow, in what is really a battle between Germany and Greece. The political establishment in other Eurozone countries are offering little support for Greece, afraid that if the Greeks manage to actually bring about a new wave of thinking in terms of long term debt sustainability, it would weaken their own grip on power at home. We need a “eureka moment” like in Monty Python’s classic Germany v Greece football philosophy sketch!