The EU summit has continued into day 3, latest is there is no sign of agreement

Author: Eamonn Sheridan | Category: News

There is little of substance coming out of the European Union leader summit that began on Friday and has stretched now into Sunday evening.

Earlier is here:
European Central Bank head Lagarde is preparing the markets for a no agreement yet scenario:
The latest update to come out of the summit, unnamed sources say the news wires, is that the 750 bn euro proposed recovery fund is now at 400bn in grants and 350bn in loans. But agreements has not been reached. Heading into the summit there were only expectations of a final agreement, so any 'no deal' impact is likely to be muted - further meetings will be scheduled (it seems this is what the EU does best). 

Stay tuned, If there are any further headlines I'll get them posted up. 

EUR/USD is a few points weaker than it was late Friday, circa 1.1418 as I update. 

There is little of substance coming out of the European Union leader summit that began on Friday and has stretched now into Sunday evening.


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