After the Failure of "Hope" as a Strategy Markets Turn To "Politicians' Conviction"

As "Hope" didn't do much for the markets in the face of economic and financial reality, speculators are now turning to Sarkozy and Merkel's "Conviction" to bail them out.

It's funny to hear the word conviction and Merkel together as she's probably the least convinced as she's been flipping from statement to statement and changing her mind every other day for the past two months...

Papandreou has also failed at least 10 times in 10 months to meet any target, yet he's committing to meet the next one.

Anyway. Here's the quote from Bloomberg:

Sept. 15 (Bloomberg) -- French President Nicolas Sarkozy and German Chancellor Angela Merkel said they are “convinced” Greece will stay in the euro area as they faced international calls to step up efforts in fighting the region’s debt crisis. 

The euro rose after the leaders of Europe’s two biggest economies issued a statement yesterday following a telephone conversation with Greek Prime Minister George Papandreou. Papandreou committed to meet deficit-reduction targets demanded as a condition for an international bailout, according to statements from governments in Athens, Berlin and Paris. [...]