How big effect will(/would) Greek bailout have on Dow?

Greek bailout is discounted but Greek going bankrupt is not. This 25 billion package is nothing compared to the obligations that mature. Only during April, about 15 billion of Greek dept needs to be refinanced. The rest to pay salaries of public sector for about 3 month’s worth. Then what?

Cul de Sac

 

News was in the market. ES down 1, NQ down 3. Euro and yen flat.