Juncker fuels speculation on ECB bond purchases

Juncker has previously confessed he sees his task as to lie to dupe the markets for what he sees as the best interests of the Euro. A boost in the short term outlook for the Euro has often, however, later been seen to be in the worst possible long term interests of that currency and its member states..

Extraordinarily, in claiming that the ECB will announce authority for the ECB to commence bond purchases to ease the Spanish crisis, seems to reduce the benefit to zero for both the short and long term prospects for the common currency. Juncker's comments may be read in a report from the Irish Times this morning, linked here. A quote from that paper including one from Le Figaro is as follows:

Mr Juncker said the euro zone was at a “decisive point” where members had to show “with all means available” they were ready to defend their currency’s stability. 

 “Just what measures we will adopt [to secure the euro], we will decide in the coming days – we have no time to waste,” he told the Le Figaro newspaper. “It is not yet decided what exactly we will do. That depends on the developments in the coming days and how quickly we have to react.”

So the markets will be left in complete uncertainty, albeit probably behave as normal and temporarily rise between now and Thursday, but then collapse if further useless platitudes emerge on Thursday or Friday morning, being completely routed by next Monday as individual nations announce they will not participate in any backing for ECB bond buying, which will be national suicide for the remaining triple A rated countries, of which there are already few still remaining within the disastrous Euro Group!