Greece keeps the euro tragedy alive and unwell

Who will win this arm wrestling match in 2012?

Despite the news out of Athens about the line of creditors willing to bail out the Greek economy from its self-inflicted tragedy, the government in Greece seems hellbent on proving that they can fail at any cost.

From all indications, Greece is looking to default on its debt in March. This is the scoop from analysts who have reviewed the ongoing, unending negotiations which keep getting hung up on one issue every day.

This lack of problem-solving is becoming more of an annoyance than an opportunity for the creditors and nations who have waited long enough to help out the so-called laziest nation in Western Europe.

Meanwhile, this has left the Euro in a tight spot, constantly arm wrestling with the Japanese Yen for top dog spot in the non-USD currency markets. This EUR / JPY binary options cartoon on the binary options news update service blog of OptionsClick illustrates the point.

UPDATE: At 15:52pm Athens Time on Thursday, February 9, 2012, the Greek government apparently closed a deal with its creditors to fix its economy. Now let's see how long that lasts until they are in need of another tranche to bail out the land of Zorba and Alexander the Great.