Things seem to be looking a bit up in euroland this morning. A bit.
The euro is ticking up, and the Athens Stock Exchange is up 4%, obviously on hopes that the worst fears of Krugman and El-Erian won’t be realized.
So, will the Greeks name their next temple after Obama?
Yesterday he leaned heavily on Merkel, and it sounds as though she may be softening her stance a little.
Of course, his pressure does nothing for the German parliament which still needs to approve a bailout, but still.
At this early hour on Thursday, things are looking a little brighter. If history is any guide, expect more shoes to drop throughout the day.
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See Also:
- Mohammad El-Erian And Paul Krugman Both Wildly Gloomy About Spiraling Crisis In Greece
- Now Obama Is Making Emergency Calls To Merkel Over Greek Aid
- Here’s Everything You Need To Know About The Rapidly Approaching Crisis In Spain