Germany likes hippies, no haircuts for Greeks

Greece preps to hear its fate on a bridge loan from EU officials Friday so it can open banks on Monday.

The vote is not a given since the IMF has come out and said that Greek debt levels are unsustainable and that a substantial haircut is needed on the principal amount owed.

It’s Greece’s best last chance to get out from under the burden of a decades-long vassal existence within the euro zone. Unfortunately, it will probably not work out well for Athens, since the Germans are staunchly against a haircut, fearing the rest of southern Europe will come knocking should the haircut be allowed.

Despite this drama, this is the first weekend in a month or so where there is not a vote of measure being voted on in Greece or Brussels.

So let’s take it in and have a good weekend.

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