Eurogeddon goes on - grexit postponed?

Europe's never-ending supply of tin cans

Probably the worst result possible in the Greek election. A narrow and unconvincing win by the pro-bailout parties - with the crazies like Syriza and New Dawn Nazi's getting ever more percentages of the vote.

Perhaps they will get a Government that agrees to follow the austerity route, but the dynamic of the Greece economic collapse means that bail-out is just going to be followed by needs for another bailout. An 10 year internal devaluation is not a plausible or realistic scenario.

What we have got is another decent effort at can kicking - lustfully jumped on by all the Euro elites as some kind of salvation. However, Spain is not sorted, nor Portugal, nor Italy  - so none of the PIGS then. They have been PIGS for a long-time.

Of course, there is still a chance that the a Government can't be formed and we go around the houses again and have new elections, so the whole dispiriting enigma can continue for a few more weeks and months at least.

Now to the G20 and let's see what non-event communique they can come up with later tonight and tomorrow...