The current rally based off of the positive GDP report and "solution" to the Greek problems is welcomed. The previous weeks of incessant reports regarding the destruction of Western Civilization were always far too dramatic to descend into reality.
But the European problem does remain, and they will have to determine if they want a United Europe or something different. My opinion on this has been fairly consistent; that the EU will mutate into "something else".
Any strategist who is either perma-bullish or perma-bearish will always enjoy periods of success, but risk having their emotional position percolate into their intellectual positions and thus disproportionately effect their logic. Guarding against a foolish consistency is something we all must strive to achieve.