Neien, nein, nein has become vielleicht or ‘maybe’ under certain conditions.

No decision will be taken at this week’s summit, but Germany has set out some preconditions for a bailout, s sign of progress.

The saga continues.

EUR/USD is getting a lift on the news, now at 1.3523. Another failure to hold below 1.3500 combined with the German news suggests some continued short-covering.