Greek debt crisis solved! For now.

The markets had to get real ugly for France's Sarkozy and Germany's Chancellor Merkel to come to a compromise to stop the debt crisis in the EU from spreading.  The solution was to create a new rescue fund called the EFSF which Sarkozy compared to the creation of a European Monetary Fund, somewhat like the IMF, only for European Union Members Only club.  Well, members and wanta be's.  The fund will also be available for troubled banks (that sounds familiar).  The rescue for Greece is $229 billion (or $159 billion Euro's) and the new EFSF will have $440 billion Euro's. The exciting part for Greece is that they will get the bailout whether they default or not...only they will call it a selective default.  The question is will this save Italy and Belguim, as well?  Most likely.