I think we should break the site up into two separate ones - ones pro for buytoilet's avatar and another one so we can work out a stalking plan to take him down... lol
Thanks buytoilet - much appreciated.
Looks like it is mainly mining stocks taking down the FTSE 100. I have not looked at the banks yet.
This Greece thing is amazing. They ask for billions to sort them out, get it and then a few days later they ask for more. How much longer can this go on for?
It can go on for as long as the ECB is prepared to give them money. And the ECB will be pressured into lending by politicians who want the Euro to succeed and/or are worried about the economic fallout of it disintegrating so this could take some time ...
As for the 'constantly asking for more' thing, it's quite simple - when you lend, you are the person that's really on the hook (well in theory anyway, hasn't proven to be the case for our corrupt banks of course) not the borrower. The more you lend to someone who is looking like a bad risk, the worse your own position gets but the stronger theirs is. Hence the borrower can put more pressure on for extra funds - "Hey, if you don't cough up another twenty billion there's no way I can pay you back the couple of hundred billion I already owe you".
Hmmm, that's not entirely unlike the current line being pedalled about "We have to borrow more money to grow our way out of this debt crisis" which is being put about by idiots and the media.