Euro rumors get less concrete

02/09/2010 1:00 pm EST

Focus: STOCKS

Jim Jubak

Founder and Editor, JubakPicks.com

Reuters is now carrying a story saying that German government sources are saying that reports about a decision on aid for Greece are “unfounded.”

I’d like to note that this story and stories from an hour ago, which reported a decision in principle by European governments to help Greece and about the German government preparing a plan to help Greece, are not in fact necessarily contradictory.

The most likely explanation is that plans are under discussion but no decision has been made on the specifics of any bailout plan.

Do I need to say that the Reuters story sent stocks into reverse?

Stay tuned. Aren’t rumors wonderful?

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