In The Last Several Minutes A Bunch Of Stuff Happened In Europe, Where Contagion Fears Are Now Racing Towards Ireland

George Papandreou

The euro just slid amid a quick flurry of headlines (via Bloomberg) from both Greece and Europe.

Here’s what just happened.

Greek PM George Panadreou told the Greek parliament that national unity is needed more than ever.

Translation: There’s no austerity agreement.

Translation to that: Without an austerity agreement there’s no cash tranche from the EU IMF.

He’s also hinting at some kind of referendum on reforms.

In addition to threatening domestic lawmakers, he also said the EU has screwed up in its handling of the situation as well. So basically everyone is to blame (but him).

And now things are happening in Ireland.

Irish FinMin Michael Noonan said that the country “will be fine” as long as outside forces are dealt with. he “fears adverse consequences” from a Greek fiasco, however.

Translation: SOLVE THE GREEK CRISIS. PUT UP THE FIREWALL.

Finally, the IMF just came out and says it sees a “positive outcome” on Greece at the next Eurogroup meeting.

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