A trader in Greece relays the mood to us. Basically: The painful part of austerity hasn't even hit yet, nobody in Europe has any idea what's going on, and social strife, if it seems bad now, will become a daily issue.

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All is as well as can be, under the circumstances.

The decisions that will announced this coming Wednesday probably, will be critical to forming the sociopolitical and economic background for the next year or so. Meantime, keep in mind that most recent govt decisions and measures, including those voted for this past Thursday, have not yet been implemented.

Even the additional taxes on income and property that have been levied, have in large part not yet been invoiced due to apparent software glitches related to printing the relevant forms.