Euro jumps following Bild story on Greek aid

FXstreet.com (Barcelona) - German newspaper Bild Zeitung published an article on Tuesday in which it claims that Berlin is preparing a 44 billion euro aid payment for Greece, combined from three pending bailout tranches.

When asked about the report, German Finance Minister's spokeswoman said that no decision has been taken on the Greek bailout.

“Color me skeptical”, writes Mark Chandler, Global Head of Currency Strategy for BBH. “To give Greece such a large sum at once is counter to the underlying strategy of doling out the aid in tranches to provide assurances of compliance. This is tantamount to unilateral disarmament by the creditors. Second, three euro area members require parliamentary approval, Germany, Finland and the Netherlands. It it unlikely to receive support.”

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