Euro area finance ministers still fiddling on Greece but euro pessimists have a Kink(s) in their argument

Reports over the weekend and today indicate that hectic negotiations between heads of government, notably Sarkozy and Merkel, and the weekend meeting of the euro area finance ministers have staved off the immediate threat of Greek default, but have done nothing to resolve the crisis. Time has been bought, again. The Merkel/Sarkozy deal shows two [...]