Cutting Off The Nose To Spite The Face – Teaching Masochism To The Greeks

It is a conundrum that the Greeks would to go vote and subsequently reject a bailout package in a referendum only to accept one that is worse off later.

Is that masochistic or not ?

The Telegraph Bobscartoon

The Telegraph Bobscartoon

 

For all the words we have in modern language with their Greek and Latin roots, masochism is of Germanic origin, derived from Leopold von Sacher-Masoch‘s name.

Triumphal masochism is cutting off of one’s nose to spite another’s face.

And that is just great, is it not ? After the months of pantomime we have endured and false bravado (Spanish origin), 40 year old Prime Minister Tsiparas will be remembered best described as a “beaten dog”.

 

And will this be studied by game theory experts for the next half decade, to be fodder for those PhD theses ?

I am not sure.

All I know is that Yanis Varoufakis did the right thing ! And it would be good for him to return to Australia because life is going to get much harder in Greece.

EURUSD looks like it is setting itself up for a sell off with its reaction to the Good News yesterday for it seems that the new negative correlation is DAX vs EURUSD.

I still prefer to take my chances with the EURJPY, which has sprung right back up but looking potentially fragile and a favourite of the hedge fund speculators who are avoiding direct contact with the EURUSD.

Having targeted 137 a few weeks back, I liked the move down to 133 as well but we are right back up to 136.25 today for no really good reason too.

So sell the EURUSD and sell the EURJPY, Philhellenes ?

EURJPY WEEKLY CANDLES

EURJPY WEEKLY CANDLES

 

EURUSD WEEKLY CANDLES

EURUSD WEEKLY CANDLES