EFSF effectively dead. Now down to ECB. Go big or pull the plug. Time to decide. (Hint: if you want save to EU, go big).
Only two positions are working in this market: cash and fetal
Japan/Senegal is what the World Cup is all about
Remember: in Europe, only 2 things matter at this point: (1) the path to the break up of the Euro and (2) composition of the rump group(s)