Live from Greece

With the ensuing Greek bond fear in the market, it helps to hear from someone on the street in Athens. Here is a post from the Buttonwood blog, live from Greece.

The meetings I have had so far indicate that the Greeks have

- an absolute determination to stay in the euro zone

- a belief that the tax system can be reformed after years of evasion, particularly by the professional middle classes

- a dislike of the IMF which means they would rather be bailed out by the Germans and French, even though that might mean higher rates and tough conditions

Complete post: http://www.economist.com/blogs/buttonwood/2010/02/greek_bailouts_and_strikes

I intend to post a number of more items to somehow demystify this issue--- separate the reality from the hype.