Look Out Below, Greek/German/JPM Edition

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The eventual departure of Greece from the euro and the EU moved one step closer to reality. Political deadlock continued for the 2nd week as President Papoulias failed to secure a unity government. New elections in Greece are looking increasingly likely.

Meanwhile, German voters rebuked Angela Merkel’s party. They suffered losses in statewide elections on voter discontent with support for bailing pout Greece and Spain.

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