German lawmakers to decide on Greek proposal today
Ze German's kick off their parliamentary discussion on Greece at 10am local time (08.00 GMT) today and are expected to commence voting at 13.00 (11.00 GMT), with the result due sometime after that
We've had the views from many lawmakers who are on both sides of the fence. Schaeuble has been one of the biggest critics of the plan but has given it his endorsement and Merkel's coalition is behind it too. There seems to little risk that it won't pass but markets will want full confirmation before reacting
If the result is resoundingly in favour then that's likely to lift the euro as it means that finally the foot is almost certainly going to connect with the can on this issue, and the bridging loan, and whatever else, is ready to be given to the bottomless pit Greece
As we've seen though, the sellers are more than ready, willing and able to steam into any upward move in the euro so be prepared for that to happen after any initial move. The caveat is that we need to take into account that it's the end of the week so players might not be quite as willing to jump on a positive euro move. That means we could se the euro close on a high note
Do your thing Germany
Update: If your German is up to scratch then you can watch the session live here. If your German isn't up to par then you can just watch in bemusement...like I will be. H/T Jan for the heads up
