Everything happened in the last 24 hours in Europe, although its purpose if it is not announced, the less predictable: the rescue of Greece was delayed further by the European Union.

Such is the lack of political will, lack of leadership and the inability of all stakeholders, that is noticeable from a distance and in advance that things go wrong.

If everything was agreed on Monday, why everything was postponed two days? If sending money as part of bailout plan depended on the adoption by Greece of the measures of "austerity" and other euphemisms, and this actually happened, what is the problem now?

The answer is simple: Greece makes no warranty of any kind, which to date has not yet taken the debt at a very low cost, and the rest of Europe knows, and mistrust of a debtor who has always failed their commitments.

In addition, the Union appears to act for public order problems, not solve, to take the moral high ground and almost extortion, raising the conditions imposed whenever the above are met .

The answer is simple: Greece makes no warranties of any kind-which until now did not yet taken the debt to a very low cost, and the rest of Europe knows it, and distrust of a debtor who has always failed their commitments.

Moreover, the Union appears to act for the public and not to solve problems, to take the moral high ground and almost extortion, raising the conditions imposed whenever the above are met.

To keep this state of affairs, it is likely that Europe will eventually send 14,400 million euros Greece needs it or do pay next month to avoid falling into default, and this game will continue indefinitely until the Greeks give up. That's the next step in sight.

Markets accounted for a further disappointment on this issue, and Friday's European session presents sharp drops in all major markets, while the euro fell as far away from 1.3320, the highest on Thursday and in recent weeks.

Yield also, albeit much weaker, pound sterling, whose medium-term uptrend has been breached, but without further confirmation to the breakdown of it, and the Australian dollar and Canadian.

The feeling is that it will generate a further fall in all leading currencies against the dollar, and that this will take hold, to varying degrees, but with special emphasis to the euro and the currencies linked to gold and oil.

The day's news agenda includes trade balance figures in Canada and the United States, both at 8:30 Eastern, and the consumer confidence index from the University of Michigan / Reuters