Europe About To Be Hung Out To Dry (Liquidity Wise)?

Two rather unpleasant headlines for the Old World from Reuters:

  • There has been disagreement in ECB governing council over new liquidity facility
  • ECB will not announce plans for a new liquidity facility to help Irish banks on Thursday

EURUSD has now erased all of the CPI-beat gains. Bond selling picking up.

More as we see it.