Germany coming up with EUR 44 bln in aid in one go for Greece is a good thing?
About the only thing good I can see coming from this is it allows Merkel to make the case to the Bundestag once rather than going back repeatedly, something her government has been keen to avoid.
Remember, at one point this fall, the government was talking about waiting for a Spanish bailout request so it could package aid for Spain, Greece and Cyprus into one piece of legislation.
EUR/USD has fallen back to 1.2700 after a short-covering rally to 1.2729 about an hour ago.
