Beware Germans bearing gifts

Great decision by the Bundestag today to back loan extension to Greece. No further concession needed. Now it's up to Syriza to see if they can live with it. It's a great game of chess, but in the end economics will win. Germany has (re)drawn its wiggly line in the sand, generously, but the line is still there. It's now up to the Greeks to decide if they want to cross it. Interesting times. We will either see a strong global currency or a failed experiment. Against the flow, my bet is still on the former. And I'm putting my money where my mouth is.