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Jakobsen: Russia and Greece - a marriage the markets can ignore?

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Chief Economist Steen Jakobsen analyses the pact between Russia and Greece. Putin is clearly using support of Greece as a means to annoy Germany; and therefore the EU. Greece needs all the friends it can get and a boost for trade and investment is being gratefully received. 

Do macro developments like this move markets enough for investors to take action? If you have European equities or forex positions do you have to close positions? Steen takes us through his thoughts on the situation and explains why QE is providing a level of immunity for European investors while also reminding us that Russian stock markets still provide cheap, if not risky, opportunities.