It appears Jean-Claude Jun(c)ker has been sniffing hallucinogenic Spanish cucumbers again:
- JUNCKER SAYS EURO OVERVALUED VS OTHER MAJOR CURRENCIES
- JUNCKER SAYS EURO AREA SHOULD HAVE EXCHANGE-RATE POLICY
The tautological question of whether he is lying we leave to the logicians. What is apparent is that Europe is finally getting pissed they are dead last in the FX race to the bottom. Cue Tim Geithner's strong dollar policy.
And in far more important news, Greece's G-Pap says that he is willing to consider a referendum on the Greek bailout measures. If so, it's goodbye EUR: a referendum has a snowball's chance in a Comcast business channel in passing.