FTSE pulls back as Greece frustration flares

Yesterday's headline on Citywire was "FTSE climbs as Greek debt deal lifts the mood".

I'd like to know how the editors/authors at Citywire put movements in the stock market down to individual events and how they choose those events.

For example, yesterday the Bank of England announced an additional £50 billion QE, how did Citywire yesterday decide that the Greek debt deal influenced the rise in the FTSE 100 and not the QE announcement?

For God's sake why don't the eurozone countries accept the inevitable and let the Greeks leave the Euro.

Swap the debt on a one euro for one drachma and let devaluation and inflation provide the necessary "haicut" over time.

The Greeks have been squeezed so hard that it doesn't matter under the current system how much you write off or bail out because they still won't be able to pay back the balance because of their shrinking economy.

LET THEM GO THEIR OWN WAY BEFORE THE IDIOTS IN GOVERNMENTS ACCROSS EUROPE BANKRUPT US ALL.

Now Jonathan, you are just being awkward, everyone knows that complex systems such as climate, economies, stock prices etc. are all controlled by a single event, such as co2 emmisions and greek debt. This acceptance makes everyones life easier, governments can set policies, reporters can write articles etc. without taxing the brain cells or taking up to much leisure time.

Jonathan & Jayzee -

If you read Black Swan you will find a vey good account of this phenomenon - the human need for a narrative.

John Lacy -

You are right, but there is no chance that Germany will let Greece have 135bn euros. As soon as the banks are firewalled Greece will be chucked out of the lifeboat. However, that may take some time, as there is no apparent determination to firewall the banks. Greece will get money in dribs and drabs to stave off insolvency, or they will throw in the towel and go bust. The Greeks are missing a trick, because it follows that now is the time to make that threat.

market is pulling back because some news wire has found a Greek right wing member of the Parliament sggesting that he cannot support the deal put to the Troika. well what do you expect it is Friday and the hedgies were getting hammered all week so heere is an opportunity for them to get some money back. Always happens on Friday. US will go up again after we close and pockets have been picked.

In the case of Greece it would appear that a minority are making promises which the majority have no intention of keeping. Given that Greece is a democratic country do you believe that this might pose a few itsy bitsy problems, both now and for the future?

Why let the opportunity pass when you know you opponent is exhausted, helpless and against the ropes to stick the knife in and twist it many, many times to prove your superiority and to torture them, for the sheer heel of it, for their breaking of the rules which Germany and France knew was going on all the times it was going on.

But hey, then they were making too much profit from the Greeks and were probably quietly plotting in cabal as what they were going to do. Greece is after all on the very fringe of its territory and they will still profit from the affluent even if they are kicked out of the Euro.

I suspect that the current deal will push the Greek people over the edge into widespread civil violence and disorder. Then what happens to the loans they are so keen to safeguard?