Pessimism growing ahead of EU Summit

Author: Adam Button | Category: News

The meeting doesn’t even begin until Thursday but it feels like a disappointment already.

The thing about Europe is that everything leaks. Everything. There isn’t a politician between Madrid and Helsinki who can keep a secret for 24 hours.

The thinking is that if Europe was to roll out any sort of grand plan this week, some strong foundations would already need to be in place. Yet with the winding down, the rumor mill is quiet. At the moment, it looks like Germany is prepared to block any creative uses of the bailout funds.

The WSJ has more on the euro and the Australian has some bearish commentary on oil.

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