And REJECTED: Sarkozy Spokesman Says No 'Mergency Merkozy Meeting, zEURo Tumbles

Tyler Durden's picture

Sorry, no announcement. Just more rumors from the Eurozone. This is, if nothing else, becoming fucking hilarious.

  • Sarkozy spokesman says no Franco-German initiative on Greece today

Additionally, Europe has officially run out of rumors to recycle for the next 24 hours: even vacuum tubes remember stuff about China and Merkozy bailing out stuff.

After soaring on the latest fake rumor, EURUSD tumbles on the news:

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MarketTruth's picture

Talk talk talk talk it's only talk...

Fact is... they are screwed. TRAPED!

Global Hunter's picture

in other words they're TARPed

freethinker4now's picture

AGREED. China sneezes. Europe catches AIDS

augie's picture

Not HIV but full blown aids...

WonderDawg's picture

Nice obscure Family Guy reference. Kudos.

HelluvaEngineer's picture

No other words to describe the action in the futures: "full retard"

Irish66's picture

whiplash, neck braces for sale

SilverIsKing's picture

But what does the other Sarkozy spokesman have to say?

Cdad's picture

Yep...this is the end game.  Statements will not fix what is wrong in Greece.  Only default will.  All that algo driven love for ES yesterday...for nothing.


HelluvaEngineer's picture

I just hope some idiots were left holding the bag.  That's all I ask.

Cdad's picture

Hard to say brother engineer.  The way the f'd market works now, as I posted yesterday, is that selling causes it to rise and buying causes it to fall.  But it's a hard gig, a close like that, and who knows who f'd it up.

I took the opportunity to open one additional short position.

Fips_OnTheSpot's picture

at 14 CEST (in 10mins) there will be a press con w/ Merkel and Katainen (PM of Finland) about "ze crisis".

mvsjcl's picture

Do rumors of rumors sway markets?

freethinker4now's picture

Bloody well seems so, how pathetic this market is!


malikai's picture

I'd like to take this moment to inject more moldy cheese in the already green fondue market.

DefiantSurf's picture

Bananarama? Really? Either your completely flaming or you forgot the [/sarc], either way I can't get back those 4 seconds so your junked!

malikai's picture

I'm sorry you dissaprove. I thought my sarcasm was apparent. What is moldy cheese to you?

DefiantSurf's picture

I stand corrected that is moldy, cheesy yes, flaming gay certainly, rescinded, carry on

malikai's picture

The real tragedy here is that the collapse did not occur during the summer. I would have then been able to drop the thermonuclear cheesebomb of "Cruel Summer". I'm holding back my tears as I type this.

Ethics Gradient's picture

I've heard a rumur to that effect.

Apostle of Unknown's picture

These kinds of rumour mills and confused leaks do imply that there is a lot of commotion and activity amongst European decision centers. Wasn't it like this as well 3 years ago?

mac768's picture

"The inmates are in charge of the asylum there IMHO"

Lord Welligton's picture

Bloody hell.

What a bunch of clowns.

catladdy's picture

Acting as a beheaded chicken

alien-IQ's picture

so I guess this means we should be hearing another preposterously hilarious rumor shortly after European trading closes?

Zola's picture

How ridiculous this is. On all of these retarded rumors the market should just spike gold. That will start teaching them that their BS is going to start backfiring soon.

Smiddywesson's picture

On all of these retarded rumors the market should just spike gold.


No, it shouldn't, not yet anyway.  Paper gold is used to quell fears and create illusions.  If there is one thing we have learned from this crisis, it's that paper gold doesn't have to do anything related to the fundamentals during a news event.  

Gold is rising despite price manipulation because central banks are buying.  If they want to stop its rise, all they have to do is halt their purchases and sit on it.

Did ZH readers really think the central banks would continue buying gold when there were rumors of a Greek default and with French banks in a panic?

Do you really think they will continue to buy with gold poised to breach $2k??  Eventually, yes, they will have to, but that time has not come yet.

Bad news means extra price suppression, plus, the Boyz halt their purchases.  Therefore, bad news is bad for gold prices.  And that's why I told everyone to cover last Friday. 

The Onion Of Twickenham's picture

Oh well, that felt like we were about to get the Greek "controlled default" routine. Merkel was on German radio this morning and made some comments about the importance of not having an "uncontrolled Greek default". That sounded awfully like a Freudian slip where the clear subtext is "we're getting ready for a controlled default". 

overmedicatedundersexed's picture

turkey and israel are not news, but rumors of EU meetings get front page.

ISEEIT's picture

Nuts. Nuts enough to make me drop my S/L entirely and add to my margin. I'm sticking with the ride down.

NervousRex's picture

It has become an escargot cult.

We're waiting for ze bivalves to return.


chump666's picture

yeah its a bad joke.  dax just got slammed back to reality.  china has now dropped the ball twice, spain, now italy.  this is getting bad.

Migrated Bird's picture

They should waited till the US vacuum tubes woke up before making the announcement. It would have been fun. Right now European markets are like headless chickens. 

Reptil's picture

Behold the "Merkozy": a terrible awe-inspiring creature able to roam markets invisibly, and move them without taking any descision.

Yeah it's getting ridiculous.

milanitaly's picture

I would like exit euro right now. Then we will see how much are strong franch and german banks and how many bonds sarkozy and merkel will have to issue to save them

NervousRex's picture

Lazlo the High Frequency Economist is shattering glasses and windows coast-to-coast on CNBS right now. Forecasting continued wavering high frequency economic events to come.


Silverhog's picture

Market up on rumors of a boat load of Chinese Leprechauns carrying pots of Gold spotted off Sicily.

Cursive's picture



Lulz, TD. ZH needs to trademark this.  Maybe WB7 can give us some artwork.


Quincy's picture

When do the investigations for spreading false information begin ... wink wink.

FunkyMonkeyBoy's picture

Are you spreading a rumor that there maybe an investigation into these rumors?

MsCreant's picture

I heard a rumor there were to be no rumors today. Damn!

catladdy's picture

We are experiencing a prelude to many failed auctions of US debt. By 2015: sino Reserve currency, our debt so great that 6% interest cost will ut us in BKrtpcy.

Sino will own our interstates, Alaska, Hawai. Taiwan will cede to China


web bot's picture

This is a very insightful comment. Today, the Fed has flattened the yield curve... but what happens when the markets start to demand a higher interest rate due to the markets desiring greater returns for risk. It's coming.

TradingJoe's picture

Dispair! Nothing but Dispair! Then FREEFALLLLLLL!

It is a bargin my friend's picture

It at least gave Gold the kick up the arse it needed

augie's picture

I am a little concerened this kick will not be enough to counter the iminent liquidations of anything that is not nailed down. Doesn't the conventional wisdom say, "you never sell what you should, you just sell what you can"? Someone correct me if i'm wrong, please.