EcoFin Meeting Cancelled, Euro Plunges

As we warned an hour or so ago... Euro plunges.

But fear not:

• EU LEADERS' SUMMITS WILL TAKE PLACE TOMORROW, U.K. SAYS

Of course, if there was no Eurosummit, the EURUSD would be at parity...

Comments

[TuesdayBen]

The Euro Fin types are blowing through massive quantities of duct tape these days, trying to keep the edifice from collapsing atop its weak foundation. Reminds me of Turks digging through the rubble of the latest earthquake.

[catacl1sm]

NOW, it's plunging. 2000:1 that it ends with green shoots today... fucking algos.

[SITruth]

Italian government on brink of collapse:

http://www.ft.com/intl/cms/s/0/21d5c8be-feeb-11e0-9b2f-00144feabdc0.html#axzz1bnqAFXi0

[A1eks]

Finally...

[Bansters-in-my-...]

bullish,for sure.

[Demologos]

Is a Greek haircut anything like a Brazilian ... only at the  other end?  This belonged somewhere else.  Fixed it.

[greensnacks]

Would it make sense that the fed is trading US dollars for Euro's to prop up their currency? and when the euro begins to collapse, they will exchange their euro's for a stronger dollar, minimizing the downard pressure on the euro?

[deebee]

if they can just stretch the Euro summit into Nov, then the media can focus on the Nov Fed meeting and QE3 hopes can re-emerge! fingers crossed