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I think the point is that the first piece of news at 20.37 was out of the ECB; but the second piece of news, at 21.01, which ( if i understand it ) is directly contradictory, is “according to a greek banking source”. (The attribution is in the TF feed, but actually i don’t remember hearing it when the audio broke – i could be wrong, though.)

It seems to me that there was no bounce, RS, because the market didn’t buy it. The greek government is new, so the market hasn’t had time to gain any confidence that they are not going to take their playlist from the hilarious Ukrainian government, who literally seem to just make news up as and when they need it. Because of the timing, the announcement seemed too much like desperate damage limitation.

I could be wrong, but that’s my 2 cents anyway. BTW: I WAS short, from 17 745, but bailed out at break even. So based on sod’s law that will probably be the top for a while. 🙁