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FLASH: Another Rumor Arises Propping up European Markets Briefly

A French newspaper floated a rumor that Merkel and Sacozy spoke yesterday to make an announcement today about sustaining Greece within the Euro.

The French government is currently stating that they are planning any public comments or announcements for today.


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BNP Paribas Denies Rumors of NOT Being Able to Take Dollar Funding Stipends

A rumor broke yesterday as a direct quote from someone in the know stating ”

We can no longer borrow dollars. US money-market funds are not lending to us anymore.”

The bank released a statement Tuesday saying, “BNP Paribas [BNP-FR  24.57    -1.55  (-5.93%)   ] categorically denies the statements made by this anonymous source and confirms that it is fully able to obtain USD funding in the normal course of business, either directly or through swaps.”

Full article

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The Trokia Will Return to Greece This Week; Angela Markel Tries to Calm Markets Until Then

Don’t ask me who the trokia is, but this band of three, I’m guessing here, are either interested in new Greek developments or are returning from vacation to be involved with ongoing discussions over Greek debt refinancing.

Angela Merkel gave a speech today that seems to reflect the inadequacy of the Trichet legacy….in other words more smoke up your…Full article

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