Despite New EFSF Approach Merkel States Greece Needs a Firewall for Default

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“I don’t rule out at all that at some point we will have the question whether one can do an insolvency of states…”

This quote, perhaps more than any other in the past few weeks and months of this impending(?) crisis, tips the E.U.’s economic hand to the markets and world: “We are set to distance ourselves from Greece.”

The never ending flip flop on sovereign debt crisis….