The single European currency did not know where to turn Wednesday noon after an Ecofin Council that has left traders dissatisfied. Around 24:40, the euro is perfectly stable against the dollar at 1.3333 dollar the euro. It ranged from 1.3259 this morning and 1.3359.

The European currency is 0.15% against the yen at 104.2 and against the Swiss franc to 1.2285, but loses much against the pound at 0.8527.

About the European sovereign crisis, the morale of traders still alternates between the hope raised by the effects of official announcement of the old continent and concerns about the real nature of decisions. Yesterday, the meeting of central bankers in the euro area (Ecofin) has released a tranche (the sixth, traders calculate Pictet & Cie) of 8 billion euros in aid to Greece in exchange for austerity measures. Reviewed by Aurel BGC, ‘there will be no default of Greece before Christmas.

However, the European Council of December 8 and 9 this afternoon raises more doubts. The famous European Financial Stability Fund (EFSF) is likely not to be given the capacity of intervention of 1,000 billion initially referred