Euroland updates.

The Greek bailout looks shaky.  A third one will be needed.

http://www.telegraph.co.uk/finance/financialcrisis/9141852/Greece-off-course-as-troika-paves-way-for-bailout-funds.html

The fiscal pact may not be worth the paper it is written on:

http://www.telegraph.co.uk/finance/financialcrisis/9141650/Getting-to-grips-with-the-EUs-new-fiscal-pact.html

See also: http://www.spiegel.de/international/business/0,1518,821544,00.html

As I mentioned yesterday, the Financial Transaction Tax is the subject of much disagreement on the form it should take.

http://www.spiegel.de/international/europe/0,1518,821317,00.html