France’s ‘happy’ Hollande is out, apres-dejeuner, opining on what occurred today and where he stands. The critical items appear to be the growing divide between his immediate need for ‘debt stability’ measures versus his disagreement over the assumptive ‘fiscal pact’ that Merkel will require before any money leaves that nation’s shores in its transfer-of-wealth way. Headlines via Bloomberg:
*HOLLANDE WITHHOLDS ENDORSEMENT OF EU FISCAL PACT
*HOLLANDE SAYS MUST FIND ALTERNATIVE TO ECB IN CUTTING YIELDS
*DEBT STABILITY MEASURES NEED TO COME FIRST, HOLLANDE SAYS
*HOLLANDE SAYS GROWTH MEASURES `AREN’T ENOUGH’
but its just not fair… sacre bleu…
*HOLLANDE SAYS ITALY-SPAIN YIELDS TOO HIGH, GIVEN THEIR EFFORT
*BAILOUT FUNDS SHOULD BE USED FOR ITALY-SPAIN, HOLLANDE SAYS
and the piece-de-resistance:
*EUROPE SHOULD HAVE MORE THAN MARKET ECONOMY, HOLLANDE SAYS
The market’s response to this less-than-total-print-fest Summit resolution: ES -8 pts from late-day highs… given back well more than half the ‘fat-finger’ fiasco…
μέσω Hollande-Merkel Divide Appears To Grow | ZeroHedge.
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