Its the same old technique used over and over again. Say you are going to do something, get the markets hyped up and then do nothing or as little as possible. Why stop when it works every time. During the week Draghi took his opportunity when Merkel was on vacation to hint at bond buying. The markets rallied as usual but watch for the sell off on monday because Schaeuble has denied any such action.

 For days, it is speculated that the European Central Bank (ECB) is planning, together with the bailout fund EFSF Spanish government bond buy – so come back to Spain to cheaper capital. The “Sueddeutsche Zeitung” According to the euro countries willing to support this approach . Federal Finance Minister Wolfgang Schäuble (CDU) has now dismissed the reports in an interview with the newspaper “Welt am Sonntag”.

 “No, at this speculation is not true,” Schäuble said the newspaper. The Finance Minister said it was already a sufficiently large aid package for Spain have been laced.

…….

Why will Germany, which Schauble says himself is in a very difficult position, and has already been very helpful to Spain, not provide more funding? Simple – unlike all other broke globalist neo-socialists, he believes that the market is actually right in punishing profligate spenders, and having bonds trade above 7% is not the end of the world. Of course, he is absolutely right.

Source: ZeroHedge

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