Germany’s Schaeuble pins his hopes on a Greek denouement on Monday, November 26.
Can’t come a minute too soon…
So what’s with this debt buy-back? The EU lends Greece more money and they use it to buyback debt? Just one-more backdoor bailout, the latest in a series.
Until Greece is able to walk away from a substantial portion of its debt it will remain a major thorn in the European side…
In the meantime, Mr. Market looks like he wants to spend the holiday season cozied up to the 200 day moving average in EUR/USD around 1.2805.
