– The Myth Is Over: Europe Fails To Agree On Greece (ZeroHedge, Nov 20, 2012):
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
