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So. Who really wins in a Greek bailout? (The graph above may give you a clue)

“Of course. It’s Germany. The DAX has been getting pounded in recent weeks, as the Greece situation deteriorates.

Today: Major snapback on talk of a new bailout. Highly exposed German banks breathe a huge sigh of relief, and a big end destination for the country’s exporters (the European periphery) remains intact.”

Business Insider