It Is About To Get Ugly: Oil Is Crashing And So Is Greece

It Is About To Get Ugly: Oil Is Crashing And So Is Greece:
"The price of oil collapsed by more than 8 percent on Wednesday, and a decision by the European Central Bank has Greece at the precipice of a complete and total financial meltdown.  
What a difference 24 hours can make. 
On Tuesday, things really seemed like they were actually starting to get better. 
The price of oil had rallied by more than 20 percent since last Thursday, things in Europe seemed like they were settling down, and there appeared to be a good deal of optimism about how global financial markets would perform this month.
But now fear is back in a big way. 
...A stunning decision that the European Central Bank has just made has set the stage for a major showdown in Europe.
The ECB has decided that it will no longer accept Greek government bonds as collateral from Greek banks...."