A further question re: Europe

[John]

This morning's eurozone agreement is a disastrous mess. Perhaps
the fallout will begin to show eventual alignments to come.

John

[Trevor]

If anything, that would be an understatement. Course, they'll try to delay making decisions, say they'll do it in a month or two. When that happens, they'll delay it again, but it's a moot point. Greece is a goner and I'm frankly amazed they haven't defaulted yet. I imagine the rating agencies are hesitant to take that final step, but sooner or later, they will not have any other choice.