Greek PSI still not solved and Finnish election result

The Greek Private Sector Involvement deal (PSI) is still without a solution. The debt talks stalled again on Saturday and the deadline has been moved back to the EU Summit January 30th 2012.

The main disagreement seems to be over the coupon, which was originally negotiated to 4.0%, but the Troika is now asking for 3.5%. The new haircut level is now close to 70%, versus the 50% originally agreed. A "forced voluntary" deal still seems the most likely result, but who honestly believes 0.5% will make a difference for Greece?

In Finland's President election the favorite Mr. Niinistö is well ahead with 36.8%, while the second spot was contested hard between the Green League and the EU-sceptic Centre Party. The Centre Party took an early lead with 2% but the Green League staged an impressive come back beating them on the goal line by what looks like 18,000 votes in the end. This means the second round February 5th should be a mere formality for the well liked Mr. Niinistö and interestingly, the EU-negative views of the True Finns from last year's parliamentary elections have failed to gain momentum this time around.

The final result can be seen here: President election 2012 Finland

Safe travels,

Steen