The Myth Is Over: Europe Fails To Agree On Greece

Tyler Durden's picture

Given our earlier comments, it is hardly surprising but the Eurogroup meeting just ended and there is no agreement; headlines via Bloomberg:

  • *FRIEDEN SAYS NO DECISIONS REACHED TODAY ON GREECE BY EUROGROUP
  • *FRIEDEN SAYS EURO FINANCE CHIEFS TO CONTINUE TALKS ON MONDAY
  • *SCHAEUBLE SAYS EUROGROUP UNABLE TO REACH CONCLUSIVE AGREEMENT
  • *LAGARDE SAYS MORE WORK NEEDED FOR GREEK SOLUTION
  •  

EURUSD is tumbling (as are S&P 500 futures in their oh-so-correlated manner)

Of course, Juncker has his own spin:

  • *JUNCKER IDENTIFIED 'CREDIBLE' IDEAS TO BRING DOWN GREEK DEBT
  • *JUNCKER SAYS GREECE HAS MET PRIOR ACTIONS SATISFACTORILY
  • *JUNCKER SAYS GREECE HAS MADE 'CONSIDERABLE EFFORTS'
  • *JUNCKER SAYS NO MAJOR POLITICAL DISAGREEMENTS IN GREECE TALKS

 

EURUSD false-started on news that they HAD an agreement - then plunged as reality hit