German coalition source says parliamentary vote on ESM/fiscal compact will be delayed until at least mid-June

Reuters headline.

Vote was due to take place on May 25.

Source says lawmakers will not now vote on ESM or fiscal compact until at least the middle of June.

The ESM needs simple parliamentary majority to be approved.

But fiscal compact needs the support of two-thirds of German lawmakers, leaving Chancellor Merkel needing opposition votes to pass it.

The delay has to be bad news for the single currency, doesn’t it?

EUR/USD relatively steady at 1.2973. Go figure…….

UPDATE: Did ya see that, we went 70 offered there for a second