THE LATEST (10:10 AM): An FT Deutschland report (in German) just out says there’s some truth to that rumour about a summit postponement.
Evidently that arrangement has been discussed among EU leaders who met last night and within the ruling German coalition.
The report also says that the success of a big endgame solution this weekend rests on a meeting of EU financial ministers in Brussels tonight.
From that report (via Google Translate):
Main points of contention in the negotiations, the future of the rescue fund EFSF firepower and the design of the second rescue package for Greece. Merkel apparently so threatened that they could make without an acceptable result of the preliminary talks for Germany on Friday a government declaration in the Bundestag and thus held the summit could not.
UPDATE: So looks like that Die Welt article was the rumour du jour.
Senior EU officials are denying that there are any plans to postpone the summit, according to Reuters (via ZeroHedge).
And you thought rumours only came out at 3 PM!
PREVIOUSLY: All week there’s been growing anticipation of this weekend’s big EU Summit, and the hope that perhaps this whole crisis could finally end, with a big bang bazooka.
But over the last few days, the most optimistic hopes have faded, as one solution after another has been ruled out as either unworkable or illegal.
And now this…
There’s a headline out there about a report (German) from Die Welt about the possibility of postponing the EU Summit. It seems German lawmakers would like to discuss the matter of EFSF leverage BEFORE the summit.
Everything just tanked on the headline
Dow futures had been up 50… now they’re pointing down by 11.
We haven’t seen the Die Welt report, but both Bloomberg and Dow Jones have cited it.