AUTOREFRESH 
Germany and France to buy Greek debt: Press
By Jamie Coleman || February 27, 2010 at 13:38 GMT
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The Greek press reports that Germany and France will buy bonds from Greece and will guarantee the purchases of others, Reuters reports. This follows on reports Friday that Germany was preparing to buy Greek debt via KfW . French state-owned bank Caisse de Depot will also take part in the purchases, the paper reported.
This action should spark a knee-jerk short-covering rally early next week, but look for the markets to soon pick apart the plan if it proves insufficient to solve the crisis or if it needs to be deployed in other euro zone countries with large fiscal deficits like Portugal and Spain.
Jamie, Good early saturday morning for you. I am also working today, so u are not alone
That is interesting it will be interestinfg to see how the Euro performs next week
Don’t you think, that those who anticipated EU help fro Greece already covered shorts on Fridays report about help via KfW and there will be no major short covering ?
Euro bullish news, risk appetite Monday coming up.
Agree for max 2-3 days, then euphoria will calm, because dept won’t disappear, and when with Greece we will be done for a while, news about other countries will rise, I think, because from technical view, correction in downtrend is needed before next leg down.
after they buy the greek debt then comes spain,portugal,italy ,ireland…after the first knee jerk euro rally comes the domino effect
the good old buy the news sell the fact.
quote from: http://www.washingtonpost.com/wp-dyn/content/article/2010/02/27/AR2010022701421.html
“The Germans were catering a big party that was going on in the euro area, selling the food and offering the credit to the party guests,” said Thomas Mayer, chief economist for Deutsche Bank. “But the guests got drunk and ate too much, and now Germany is stuck with the bill. What this tells us is that the euro model must be adjusted. Yes, the Greeks are going to have to make reforms, but the Germans are going to have to change, too.”
[...] that Germany and France will buy Greek debt have suported the EUR, especially on the [...]