Markets Seasick from Euro Waves

Getting seasick yet? It's about the euro again. Okay, what is it this time?

First, the European Commission said the Greek economy would contract more than previously.

Now, there's a headline from a German newspaper, Die Welt, that Germany favors a Greek "voluntary restructuring" (i.e., debt extension or worse), and that France opposes this.

There're also reports that the EU and the IMF might accept a "soft debt restructuring" for Greece.

Euro moves down, dollar moves up, commodities drop, stocks know the game.

European finance ministers are meeting early next week to ratify the Portugese bailout.

What's clear is that European finance ministers would prefer to kick the can down the road, hoping the banks will be stronger down the road...but will the market let them?

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