So Much For Dreams, Hopes And The European Way: Schaeuble, Merkel Warn EU Summit To Be A Dud
by Tyler Durden
Nobody could have foreseen this, nobody, certainly not the vacuum tubes who took the S&P for a ride for nearly 150 points. As Reuters reports, “the euro fell to a session low versus the dollar on Monday after comments from German Finance Minister Wolfgang Schaeuble saying the EU summit would not present a definitive solution to the euro zone debt crisis prompted investors to sell the single currency.” No, that’s not true, it’s impossible. You mean all those hopes… Dashed? “A Bundesbank report saying the German economic outlook had deteriorated further also curbed some of the market optimism that had helped push the euro to a one-month high earlier in the session. The euro hit a session low of $1.3824 before recovering slightly to last trade down 0.3 percent on the day at $1.3840.” And since the EURUSD and stocks trade as one… You know the rest.
More, for whom this comes as a total shock: