Instead, everyone is now closely watching Italian and Spanish bonds, which witnessed an initial summer, hope-based, yield decline resting on the idea that this summit somehow produced a different result than all of the others.

FORBES: EU's Feta-ish With Greece Wanes In Light of Spain And Italy's Unsustainable Bond Yields

This belief was based on the results of more than 30 different studies, including a 1996 result that had followed 60, 000 nurses for 16 years and was published in the New England Journal of Medicine, the top publication for medical research.

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