Much was transferred inside the EU to Germany, UK and France. Southern Europeans wire cash to safer north http://www.reuters.com/article/2012/05/28/euro-transfers-idUSL5E8GO4SF20120528 Plus, Greece is quite small. ~1 billion outflow per day, half going to USD. That's 500 mill in a 1.2 Trillion USD spot fx market. Not much? Just a guess.
Queues have formed outside pharmacies in Greece after the cash-strapped government promised to tackle a shortage of critical medicines. Despite a government promise to make cancer drugs available, people said they were still unable to find them. People complained they had had their cancer treatment interrupted and were worried they might die as a result. On Tuesday, the country's diabetes association said thousands of lives were at risk after pharmacists cut credit to the largest healthcare fund, leaving many sufferers unable to pay for medication. http://www.bbc.co.uk/news/world-europe-18343048
Trade price not news, news makes the game harder, does not need to be. Keep it simple, stick to price.
Greek crisis creates medicine shortages http://articles.economictimes.india.../32078829_1_pharmacies-greek-crisis-medicines Greece debt creating healthcare crisis, warn chemists http://www.guardian.co.uk/world/2012/may/23/greece-debt-creating-healthcare-crisis
Referring to all of eurozone; Italy, Spain, etc. I suppose it's more of a debt-flight (into ED-instruments, USTs, etc.)
Sure. Over roughly the same 12 month period - the euro is down 25 cents, bund yield down 150 basis points, and US 10 yield down ~150 bps. Adds up? Ironic, on the dailies, everything looks risk-on..
If that's the case Sterling should have had a much better bid. In fact, it's been a bit of a laggard.
To elaborate, yeah, the World is ending and the Euro is basically flat for the month. You would think we'd have traded down to 1.15 based on the "immediacy" of the problem.