Comment: ECB to the rescue, whether Cyprus wants it or not.

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SteveMT's picture

ECB to the rescue, whether Cyprus wants it or not.

[Hearing the sound of bankers printing more money.]
ECB Responds To Cyprus, Says "Will Provide Liquidity To Cyprus Within Existing Rules"
3-19-13
We were waiting for the ECB response, and seconds ago we got it, when the ECB uttered the magic words, saying it would provide "liquidity within existing rules." What this means is unclear, but the algos loved it and sent the EURUSD up over 50 pips higher in milliseconds.
http://www.zerohedge.com/news/2013-03-19/ecb-responds-cyprus...