Euro Soars On Merkozy Announcement Of Full Agreement... But No Euro Bonds - Live Press Conference Webcast

Tyler Durden's picture

Here come the latest headlines from the Sarkozy-Merkel press conference:

  • SARKOZY CITES COMPLETE AGREEMENT WITH GERMANY REACHED
  • FRANCE, GERMANY SEEK TO PREVENT REPEAT OF CURRENT CRISIS
  • FRANCE, GERMANY WANT `NEW TREATY' FOR EU
  • AUTOMATIC PENALTIES BACKED FOR BUDGET VIOLATORS, SARKOZY SAYS
  • SARKOZY SAYS PREFERENCE IS FOR TREATY AMONG 27 EU COUNTRIES
  • EUROPEAN MONETARY FUND BACKED, SARKOZY SA
  • SARKOZY SAYS NO COMMENTS TO BE MADE ON ECB
  • CRISIS MUST BE STOPPED TO PRESERVE EUROPE, SARKOZY SAYS

So now all the two European heads have to do is convince the rest of Europe that abdication of national sovereignty to Merkozy is in everyone's best interest. And what would a European announcement be without a plan to plan:

  • REINFORCED IMF ROLE SOUGHT, SARKOZY SAYS

Regardless, EURUSD up 40 pips on the news. For now.

And now back down on the following kicker as it seems the Eurobond ex Machina is once again dead.

  • EURO BONDS ARE `IN NO CASE' A CRISIS SOLUTION, SARKOZY SAYS
  • MERKEL SAYS EUROPEAN COURT WON'T VETO MEMBER STATE BUDGETS
  • MERKEL SAYS EUROPEAN COURT WON'T VETO MEMBER STATE BUDGETS

Watch the conference live here: