Brussells will have more action than Mardi Gras over the next two days. The heads of the euro families all sit down for another photo op. Here are some words and phrases that you will hear for the next 48 hours.
Attempt– Italy just popped on a report that the EU will “attempt” to reduce borrowing costs
Eurobonds– This is the presumed cure for all ills. Will Merkel acquiesce so Europe can retire at fifty five from no show jobs while Germany busts it to sixty five?
More meetings– A more pleasant phrase for kick the can some more.
Concerted effort– It’s tough enough to get two to agree, so seventeen countries is a push to say the least.
Shared liability– Kind of like shared sacrifice here
Banking Union, Fiscal Union, Political Union-organizing these three things is like splitting an atom with a baseball bat.
Rescue Funds– Who are they and how much?
So today should be fun as we also have the Supreme Court ruling, contempt charges, weekly jobless claims and adjusted GDP.
Just another day.
$SPY $UUP $QQQ $EURUSD