The Euro went up Monday noon when a wild rumor was sweeping through traders’ desks and markets’ floors and social media, preferably on Twitter.. According to the unsourced rumor a Greek deal was to be announced in the afternoon.
Soon, an official from the Institutions confirmed that the rumor was just a rumor and told Reuters that no deal was to be announced this afternoon.
“Asked if there was any substance to the rumour of a announcement of A deal between Athens and its creditors on Monday afternoon, one official said: “no” and a second one also denied any knowledge of such an announcement.”
The markets calmed down and the Euro sank again.
Some traders expressed anger over the “ridiculous thing” and the markets reaction. IT is not the first time though that people and markets react to unsourced or even sourced rumors that have been around Greece since 2010.
Just think of all the “Grexit imminent” rumors and all the scare-mongering and blackmailing “rumors” put in circulation by the famous “unnamed EU sources” since 2010.
Just ask the Greeks.
It sounds like its ‘squeaky-bum’ time for the troika. they have’nt a clue what to do next and are hoping against hope that if they stick to their guns, somehow they can still exert influence over the greek government. Tsipras just needs to maintain his position and the toika will eventually fall in line….there is nothing left to give, squeeze as much as they can, there is no blood left. This situation calls for a new energy other than the energy that created this mess.
They want Greece to fail, in order to prevent any similar left governments emerging across Austerity Europe. The Germans have managed to convince themselves that they can withstand the consequences of Greek default or even Grexit. They are gambling with the future of Europe, and solving nobody’s problems (not even Germany’s).