Europe: the weight of indecision.

Investors did not miss the fact that ECB action on bond buying has been postponed. Italian 10 year bonds went up .102 to 5.80%, while corresponding Spanish bond rate went up to 6.48%.

To add to the already complicated financial mass, Germany is on track to demand a speedup of not only fiscal integration, but political integration as well. Actually, I don't see a demand for greater political integration. What I see is a German demand to keep deficits within certan bounds - these bounds to be administered by some kind of new court.