Dealers are assessing the German conditions for a Greek bailout and find them a bit lacking.
One of the conditions is that Greece be unable to finance themselves on the markets before receiving aid. That creates an open invitation for the markets to turn off the financial spigots to Greece until a package is in place.
The second concern is the German insistence that the IMF contribute substantially to a rescue. Germany new full well what it was getting into when it joined the euro. It is completely bogus to expect the rest of the world to contribute to the error of their ways.
Third: Almost no one wants to reopen the EU Treaty. That has been a political minefield for years.
EUR/USD has dipped form 1.3531 highs ad trades now at 1.3513.
