The Grand Duchy of Luxembourg is good for essentially two things: hiding money and dining at one of the world’s few remaining Chi-Chi’s Mexican restaurants. And, as of yesterday, it is also once again good for trading Greek bonds, if you should want to do that for some reason.
The exchange lifted a suspension on trading securities issued by 25 Greek entities, from government bonds to those of Alpha Bank SA and Hellenic Telecommunications Organization SA, according to a statement.
Of course, anyone actually trading those things will rue the day if German finance minister Wolfgang Schäuble has his way.
Over the past two weeks, the 72-year-old Mr. Schäuble has puzzled even German officials who know the finance chief well with remarks questioning the wisdom of a new bailout for Greece….
Mr. Schäuble’s open skepticism over whether a new bailout would work has heightened uncertainty over what would happen once officials representing international creditors reached a preliminary deal with Athens, which is expected in the middle of next month. Over the weekend, Mr. Schäuble mused in response to a German magazine interviewer’s question about his differences on Greece with Ms. Merkel that he would resign if someone forced him to violate the responsibilities of his office.