Doesn’t mean Greece won’t eventually be ejected from the Eurogroup, just means it likely won’t happen this fall.
The phrase “postponing the inevitable” comes to mind.
This is all part of the process toward shifting the Eurogroup to a transfer union with the rich north subsidizing the less prosperous south, rather like the model in place in the US since the 1860s post-Civil War period.
EUR/USD off NY lows, now at 1.2355.
