- Eurogroup chairman Juncker says the eurozone has instruments to help countries in trouble.
- They will use those instruments when needed .
- The eurozone needs to prepare more definite aid instruments for the future
- Joint eurozone-issued bonds was rejected by Germany and France three years ago, he says
- Euro zone aid would be for the “day after tomorrow”
- reiterates Greece has not asked for financial aid
- Greece not thinking of asking for help (really? I guess “support” and “aid” are distinctions without a difference…)
It seems to me the Eurogroup is playing a dangerous game, daring the market to force a crisis in order to see how much aid and in what form they come up with aid. Being preemptive would be much smarter, in my view.
UPDATE: Juncker says he will not reveal details on possible aid because the market would immediately test them…
