Unidentified Source: Greece Will Stay in Eurozone on 'Bailout Extension' - Updated

 

Unidentified Source

An 'unidentified source' says that Greece has agreed to stay in an EU bailout program, according to CNBC.

 

I think the initial surge in the futures market on these headlines crossing the wires have backed off, no doubt on the complete lack of substantive detail provided by CNBC's Michelle Caruso-Cabrera who broke the story,  which was picked up by Bloomberg TV.

Sound like an extension in time to allow for discussions to continue until next Monday, and an agreement not to leave the Eurozone-- yet.

 

UPDATE: GREEK GOVT OFFICIAL SAYS NO AGREEMENT IN EUROGROUP, GREECE WILL NOT ACCEPT AN EXTENSION OF CURRENT BAILOUT

 

Well, that wash and rinse didn't take long.

 

EU, Greece come to agreement in principle, meetings to continue: Source

Michelle Caruso-Cabrera

Greece has reached an agreement, in principle, with the European Union to stay in an EU bailout program, a source familiar with the matter told CNBC Wednesday.

The discussions will continue through Monday, according to the source.

Futures added to gains, while Treasury bond yields climbed following the report. The euro rose against the dollar.

Meanwhile, a Eurogroup source told Reuters that there is no agreement yet with Greece, but there may be a deal to explore the possibility of extending the current bailout program.