In the absence of any meaningful economic data or market changes, Europe holds the stage.
If this were burlesque -- and of course it is -- the audience would be yelling, "The hook! The hook!" The impresario with the shepherd's crook would long since have yanked Europe by the neck off-stage and dumped it in the alley.
Why, oh why, is this dragging on, the euro such an obvious and total failure? Three reasons.