A $Trillion ain’t what it used to be – Asia initially liked the “really big number” EU bailout backed by the IMF (about 1/5th of which is the US Treasury). But by about noon, the Euro is back to about where it finished Friday. Someone doesn’t believe the European Central Bank is going to make this plan work.
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The Euro slid back to $1.27 – you can save Greece or have a strong Euro, but not both – maybe neither. But since the EU was designed to create an economic, political and military counter to U.S. “power”. It’s odd that the Fed feels a need to open the US dollar vaults to “save” the Euro.