I took a 9month holiday from trading from last autumn till yesterday. When i left last autumn Italian bonds had just retreated after hitting 7%, Greece had just agreed to a new bailout (after some media stunt where the PM backed out of the deal for a few hours), all the markets had crashed down 15-20% over about 3months, but was finally settling down and Greece headlines stopped coming out. I returned yesterday, looked at the news over the past few weeks to try getting a picture of what the current economic news scene is and what the current major deadlines are for Greece.... ect But am very confused as to why a Greece default and exit from the euro still is NOT priced into the markets?? :eek: Everytime any headline comes out from Greece about them planning on rejecting the EU imposed austerity and so leaving the euro the markets all get shocked and surprised, and then drop a few % in seconds! But so why isn't Greece's leaving of the euro priced in yet? Whats happened over the last 9months that ive missed thats causing this?