Beyond Coincidence?

As you know, I've been thinking today would be a pretty rangebound day, causing a slew of options to expire worthless. The reasoning continues that early next week we could finally see that bounce with OPEX out of the way.

This morning it's reported that Germany's Angela Merkel essentially caved in to French and ECB demands regarding the voluntary restructuring of debt as to not give rise to a "credit event", this was a major change of heart for Germany.

Papandreou announces a reshuffling of his cabinet.

Now this just breaks on Reuters...

Essentially the new finance minister tells Reuters that they have an austerity package that has passed committee and is expected to pass parliament. There are some major changes in the package and Greece is expected to seek EU Finance ministers approval on Sunday.

If the EU caves into the new Greek austerity measures, then the former seemingly impossible impasse, may just make it through. Wouldn't that be something to hear Sunday that the Troika accepts Greece's new plan and a deal is essentially done.

It would seem unlikely given the demands of the Troika, but there seems to be too many coincidental moves in play. It's certainly eyebrow raising and it's hard to imagine a cabinet reshuffle one day, a plan that will pass Parliament the next day and Greece seeking the approval of the EU on Sunday, of course before the market opens.